GST collection surpasses 1.87 lakh crore, the highest monthly total ever

The total amount of GST income collected in April was $1,87,035; of this amount, CGST was responsible for 38,440 crore, SGST for 47,412 crore, and IGST for 89,158 crore.The greatest monthly mop-up since the implementation of the indirect tax regime, GST collection increased by 12% in April to 1.87 lakh crore.The finance ministry reported that the total GST income collected in April 2023 was $1,87,035 billion, of which the CGST, SGST, and IGST (including the $34,972 billion collected on imports of commodities) accounted for 38,440 billion, 47,412 billion, and 89,158 billion respectively.

1.68 lakh crore was the previous record-breaking collection in April of last year.According to the ministry, “the revenues for the month of April 2023 are 12% higher than the GST revenues in the same month last year.”The month’s domestic transaction revenues (including those from the import of services) were 16% higher than they had been in the same month last year.The fiscal year 2022–2023 saw an 18.10 lakh crore total gross collection, a 22% increase over the prior year.

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