GST collections increases to Rs 1.5 lakh crore in December, up 2.5% from November

Digital Desk: The finance ministry reported on January 1 that India collected Rs 1.5 lakh crore in Goods and Services Tax (GST) in December. The GST collections for December were Rs 1.5 lakh crore, up 15.2 percent from the previous month and 2.5 percent from November.

In November 2022, gross GST receipts were Rs 1.46 lakh crore, up from Rs 1.3 lakh crore in December 2021.

 

The latest figure implies that GST receipts have now surpassed Rs 1.4 lakh crore for the tenth month in a row.

The Central GST was Rs 26,711 crore in December, while the State GST was Rs 33,357 crore. The combined GST and cess were Rs 78,434 crore and Rs 11,005 crore, respectively.

 

From the Integrated GST, the government paid Rs 36,669 crore to the Central GST and Rs 31,094 crore to the State GST. As a result, the total revenue of the Centre and the states in December was Rs 63,380 crore and Rs 64,451 crore, respectively, post-settlement.

In a departure from November, just 11 states and union territories (UTs) had their GST receipts increase by less than 14 percent in December.

Except for eight states and UTs, revenues increased by less than 14 percent in November.

Himachal Pradesh (7 percent), Punjab (10 percent), Manipur (-5 percent), Assam (13 percent), Odisha (-6 percent), Chhattisgarh (0 percent), Daman and Diu (-86 percent), Goa (-22 percent), Lakshadweep (-36 percent), Andaman and Nicobar Islands (-19 percent), and Telangana (-19 percent) saw sub-14 percent growth in December (11 percent).

With the protected GST revenue period ending on June 30, states are no longer reimbursed if their collections are not 14 percent or more than the previous year's equivalent month.