GST collections soar to record high of Rs 1.87 lakh crore in April

The country’s gross GST revenue collected in the month of April, 2023 soared to a record high of 1.87 lakh crore. This is the first time that GST collections have crossed the 1.75 lakh crore mark, according to a finance ministry statement issued today.

The sharp increase in GST collections shows that the Indian economy is growing at a robust pace.

The revenues for the month of April 2023 are 12% higher than the GST revenues in the same month last year. During the month, the revenues from domestic transactions (including import of services) are 16% higher than the revenues from these sources during the same month last year.

The total number of e-way bills generated in the month of March 2023 was 9.0 crore, which is 11% higher than 8.1 crore e-way bills generated in the month of February 2023.

April also recorded the highest ever tax collection on a single day when on the 20th of the month a collection of Rs 68,228 crore was made on 9. 8 lakh transactions. The highest single day payment last year (on the same date) was Rs 57,846 crore through 9.6 lakh transactions.

The government has settled Rs 45,864 crore to CGST and Rs 37,959 crore to SGST from IGST. The total revenue of Centre and the States in the month of April 2023 after regular settlement is Rs 84,304 crore for CGST and Rs 85,371 crore for the SGST, the official statement added.