GST Revenues from domestic transactions (including import of services) are 14% higher Year-on-Year

The gross GST revenue collected in the month of August, 2023 is ₹1,59,069 crore of which CGST is ₹28,328 crore, SGST is ₹35,794 crore, IGST is ₹83,251 crore (including ₹43,550  crore collected on import of goods) and Cess is ₹11,695 crore (including ₹1,016 crore collected on import of goods).

The government has settled ₹37,581 crore to CGST and ₹31,408 crore to SGST from IGST. The total revenue of Centre and the States in the month of August, 2023 after regular settlement is ₹65,909 crore for CGST and ₹67,202 crore for the SGST.

The revenues for the month of August, 2023 are 11% higher than the GST revenues in the same month last year. During the month, revenue from import of goods was 3% higher and the revenues from domestic transactions (including import of services) are 14% higher than the revenues from these sources during the same month last year.

The chart below shows trends in monthly gross GST revenues during the current year. The Table-1 shows the state-wise figures of GST collected in each State during the month of August, 2023 as compared to August, 2022 and Table-2 shows the SGST and SGST portion of the IGST received/settled to the States/UTs in August, 2023.

Table-1: State-wise Y-o-Y growth of GST Revenue in August, 2023^[1] (Rs. In crore)

 

 

Table-2: Amount of SGST & SGST portion of IGST settled to States/UTs in August, 2023 (Rs. In crore)

^[1]Does not include GST on import of goods

GST revenue growth: August collections rose year on year, driven by higher domestic transaction receipts and IGST settlements to states. Gross GST collections for August 2023 showed year on year growth, comprising CGST, SGST, IGST (including import of goods) and cess, with IGST settlements made to CGST and SGST producing post settlement central and state shares. Domestic transaction receipts (including import of services) rose more strongly year on year than import of goods. State wise tables set out month on month and year on year collection comparisons and the SGST plus SGST portion of IGST settled to each State/UT for the month.