GST collections touch Rs 1.55 lakh crore in January 2023

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Goods and Services Tax (GST) collections for January 2023 stood at Rs 1,55,922 crore, 4 percent higher than Rs 1,49,507 crore collected in December 2022.

January’s collections are second only to Rs 1.68 lakh crore gross GST collections recorded in April 2022.

GST collections have crossed the Rs 1.50 lakh crore mark for the third time in 2022-23, official sources said.

Out of the Rs 1,55,922 crore GST collections for January 2023, CGST was Rs 28,963 crore, SGST was Rs 36,730 crore and IGST stood at Rs 79,599 crore.

The government has settled Rs 38,507 crore towards CGST and Rs 32,624 crore towards SGST from IGST as regular settlement.

The total revenue of the Centre and the states in January 2023 after the regular settlement is Rs 67,470 crore for CGST and Rs 69,354 crore for the SGST.

Revenues in the current financial year up to January 2023 are 24 percent higher than the GST revenues collected up to January 2022.

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