GST revenue collected for October 2022 was Rs.151718 crore, the second highest collection ever

Nov 1, 2022 | GST FAQ, News | 0 comments

GST revenue collected for October 2022 was Rs.151718 crore, the second-highest collection ever


Rs.151718 crore gross GST Revenue collected for October 2022; Second Highest Collection Ever

The gross GST revenue collected in October 2022 is Rs.1,51,718 crore of which CGST is Rs.26,039 crore, SGST is Rs.33,396 crore, IGST is Rs.81,778 crore (including Rs.37,297 crore collected on import of goods) and Cess is Rs.10,505 crore (including Rs.825 crore collected on import of goods), which is second highest till date.

The government has made regular settlements of 37,626 crores to CGST and 32,883 crores to SGST from IGST. Additionally, the Center has paid out Rs 22,000 crore on an as-needed basis in a 50:50 ratio between the Centre and States. After regular and ad hoc settlements, the combined revenue for the Center and the States in October 2022 is 74,665 crore for the CGST and 77,279 crores for the SGST.

The revenue for October 2022 is the second-highest monthly collection after the revenue for April 2022, and it is the second time that the gross GST collection has surpassed the Rs. 1.50 lakh crore threshold. Only April 2022 will top October’s domestic transaction revenue total. The monthly GST receipts have now exceeded the threshold of 1.4 lakh crore for the ninth month in a row. 8.3 crore e-way bills were produced in September 2022, a number that was much higher than the 7.7 crore e-way bills produced in August 2022.

The chart below shows trends in monthly gross GST revenues during the current year. The table shows the state-wise figures of GST collected in each State during October 2022 as compared to October 2021.

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