PTI | | Posted by Ritu Maria Johny
The GST assortment in January surged to over ₹1.55 lakh crore, the second highest-ever mop-up, the finance ministry mentioned on Tuesday.
“The gross GST income collected within the month of January 2023 until 5:00 PM on 31.01.2023 is ₹1,55,922 crore of which CGST is ₹28,963 crore, SGST is ₹36,730 crore, IGST is ₹79,599 crore (together with ₹37,118 crore collected on import of products) and cess is ₹10,630 crore (together with ₹768 crore collected on import of products),” the ministry mentioned in a press release.
The revenues within the present monetary 12 months as much as January 2023 are 24 per cent greater than the GST revenues throughout the identical interval final 12 months.
That is for the third time, within the present monetary 12 months, GST assortment has crossed ₹1.50 lakh crore mark. The GST assortment in January 2023 is the second highest subsequent solely to the ₹1.68 lakh crore gross mop-up reported in April 2022.
“Over the past 12 months, varied efforts have been made to extend the tax base and enhance compliance. The share of submitting of GST returns (GSTR-3B) and of the assertion of invoices (GSTR-1), until the top of the month, has improved considerably over years,” the ministry mentioned.
Within the October-December 2022 quarter, a complete of two.42 crore GST returns have been filed until the top of the subsequent month in comparison with 2.19 crore in the identical quarter of the final 12 months. This is because of varied coverage adjustments launched in the course of the 12 months to enhance compliance, it added.