In December 2022, India’s Goods and Services Tax (GST) income grew to around 1.5 lakh crore, 2.5% more than November’s collections and 15% more than December 2021.
Revenues from domestic transactions, including that of the import of services, were 18% greater than those from these sectors in December 2021, while revenues from imports of products were 8% higher.
According to a report from the Finance Ministry, the total GST income generated in December 2022 was $1,49,507 crore, of which CGST was $26,711 crore, SGST was $33,357 crore, IGST was 78,434 crore (including $40,263 crore collected on import of goods), and Cess was $11,005 crore (including 850 crores collected on import of goods). While revenues increased by 2.5% from November to December 2022, the quantity of e-way bills issued increased by 3.95% to 7.9 crores in December.
This news is written by Ms. Pujari Dharani, Research Assistant, All India Legal Forum.