GST receipts reach Rs. 1.55 trillion in January 2023

by Subhechcha Ganguly

GST receipts for January 2023 totaled Rs 1,55,922 crore, a 4% increase over the Rs 1,49,507 crore received in December 2022. Only the gross GST collections of Rs. 1.68 lakh crore from April 2022 are higher than January’s totals.
For the third time in 2022–2023, GST collections have surpassed the Rs 1.50 lakh crore threshold, according to government sources. CGST was Rs 28,963 crore, SGST was Rs 36,730 crore, and IGST was Rs 79,599 crore out of the Rs 1,55,922 crore GST receipts for January 2023.

As part of a routine settlement, the government has paid out Rs 32,624 crore for SGST and Rs 38,507 crore for CGST from IGST.After normal settlement, the combined income for the Centre and the States in January 2023 is Rs 67,470 crore for the CGST and Rs 69,354 crore for the SGST.The GST revenues collected through to January 2022 were 24% lower than the revenues in the current fiscal year up to January 2023.

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