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Data Alert: GST mop-up rises 10% on year to 1.627 trln rupees in Sep

Informist, Sunday, Oct 1, 2023


–India Sep total GST collections up 10% on year 
–States' Sep GST revenue post-settlement 652 bln rupees 
–Centre's Sep GST revenue post-settlement 636 bln rupees 
–India Sep GST cess mop-up 116 bln rupees vs 117 bln Aug 
–India Sep Integrated GST mop-up 836 bln rupees vs 833 bln Aug 
–India Sep State GST mop-up 377 bln rupees vs 358 bln Aug 
–India Sep Central GST mop-up 298 bln rupees vs 283 bln Aug 
–India Sep total GST mop-up 1.627 trln rupees vs 1.591 trln Aug 
 

NEW DELHI – India's goods and services tax collections grew 10% on year to 1.627 trln rupees in September, the finance ministry said today.

 

In August, the GST collections were at 1.591 trln rupees. On a month-on-month basis, GST collections rose by 2.3% in September. 


Of the total collections during September, 298 bln rupees were from central GST, 377 bln rupees from state GST, 836 bln rupees from integrated GST, and 116 bln rupees from compensation cess, the ministry said in a release.

 

From the integrated GST collections, the government settled 337 bln rupees to the central GST and 276 bln rupees to state GST in September, the ministry said. Post settlement, the revenues of the Centre were at 636 bln rupees in September, while those of states were at 652 bln rupees.

 

During the month, revenues from domestic transactions, including import of services, were 14% higher year-on-year, the release said. 

 

"With normal period of limitation for 2017-18 (Apr-Mar) ending on Sep 30, some of this increased collection could be linked to businesses having settled issues with payment of taxes for the said period. While 1.6 trln plus (rupees) seems to be the new normal, this could see a further uptick with the festive season round the corner," said Abhishek Jain, partner and national head, Indirect Taxes, KPMG. End

 

Reported by Priyasmita Dutta

Edited by Maheswaran Parameswran

 

 

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