India’s finance ministry on Monday released the latest figures on the goods and services tax (GST) revenue collection. In April, GST recorded the highest-ever collections of Rs 1.87 lakh crore, crossing the Rs 1.75 lakh crore mark for the first time.
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New Delhi, May 1: India’s Goods and Service Tax or GST collection touches a new milestone with the highest collection in the month of April. According to the latest figures released by the Finance Ministry, the gross GST revenue collected in the month of April, 2023 is Rs. 1,87,035 crore.
The ministry has announced that for the first time, gross GST collection has crossed Rs. 1.75 lakh crore mark. The total number of e-way bills generated in the month of March 2023 was 9.0 crore, which is 11% higher than the 8.1 crore e-way bills generated in the month of February 2023.
While the CGST collection is Rs 38,440 crore, SGST is Rs 47,412 crore, IGST is Rs 89,158 crore (including Rs 34,972 crore collected on import of goods) and cess is Rs 12,025 crore (including Rs 901 crore collected on import of goods).
On Monday, the finance ministry said that April 2023 saw the highest-ever tax collection on a single day on 20th April 2023. On 20th April 2023, Rs. 68,228 crore was paid through 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. Industry experts have said that the all-time high indirect tax collections point to the robust growth of the Indian economy given the strong pick-up in consumer demand.
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