GST Collection Crosses ₹2 Lakh Crore! Government exchequer has brightened with September figures

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The Indian government has received news of a major relief on the GST front. According to the figures released by the government, the GST collection has increased by 14.7 percent in the month of September this year compared to the same period. On the other hand, there has been a decline on the refund front, which is 3 percent. The special thing is that if we compare the figures of August, the figures of September look very strong. This is the fourth time in the current calendar year that the GST collection figure at the government exchequer has crossed Rs. 2 lakh crore has crossed. Let us also tell you what kind of figures have been presented by the government regarding GST collection.

GST collection has seen an increase

  1. Government of India in the month of September as Gross Goods and Services Tax (GST) Rs. 2,03,521 crore was collected, which is 14.7 percent higher than the same month last year.
  2. The total gross collection for the first half (April-September) of this financial year is Rs. 12,46,278 crore, which is 11.6 percent higher.
  3. There was a decline on the refund front in September and the figure fell by 3 percent year-on-year to Rs. 27,001 crores.
  4. CGST in September collection Rs. 37,762 crore, SGST Rs. 45,363 crore and IGST Rs. 1,20,396 crores.
  5. As for total net GST revenue, it grew by 18.1 percent year-on-year to Rs. 1,76,520 crores.
  6. India’s gross domestic income is Rs. 1,25,334 crore up 10.1 percent to Rs. 1,37,996 crore, while the net domestic revenue increased by 13.5 percent to Rs. 1,24,491 crores.

Largest collection in Maharashtra

  1. Among major states, Maharashtra recorded the highest GST collection in September, at Rs. 29,986 crores. Which a year ago Rs. 25,973 crore is 15% more than Rs.
  2. This was followed by Karnataka, where the collection was Rs. 13,884 crore and an increase of 16%, while Gujarat’s GST revenue increased by 17% to Rs. 12,222 crores.
  3. Uttar Pradesh’s GST revenue rose 18% in September to Rs. 8,882 crore, which was Rs. 7,516 crores.
  4. Telangana also saw an increase of 18% and the collection stood at Rs. 4,512 crore to Rs. 5,327 crores. Punjab’s GST revenue increased by 18% to Rs. 2,549 crores.
  5. Among the larger states, Assam recorded the highest increase, where GST collections increased by 88% year-on-year to Rs. 1,287 crore to Rs. 2,415 crores.
  6. After this, collections in Manipur increased by 145% to Rs. 92 crores, while Arunachal Pradesh and Nagaland registered an increase of 46% and 39% respectively.

A decline has been observed in these states

  • During September, GST collections of many states were reported to have declined. The biggest drop was in Sikkim, where income fell by 51% to Rs. 194 crores.
  • Jammu and Kashmir’s collection fell by 29% to Rs. 487 crore, while in Uttarakhand it fell by 23% to Rs. 1,277 crore and in Himachal Pradesh by 21 percent to Rs. 640 crore was done.
  • Tamil Nadu’s GST revenue fell 5% year-on-year to Rs. 10,188 crore, while Goa’s collection fell by 7% to Rs. 494 crore has happened.
  • Puducherry’s collection dropped by 31% to Rs. 179 crore and Meghalaya’s collection fell by 14 percent to Rs. 164 crore has happened.

Saurabh Sharma

Covers the stock market, economy and commodities since 2008. Before joining TV9, he was also associated with several big organizations like DNA, A-Shiyanet, Jansatta, Dainik Jagran and Rajasthan Patrika.

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Halie Heaney

Halie Heaney is an accomplished author at SpeaksLY, specializing in international news across diverse categories. With a passion for delivering insightful global stories, she brings a unique perspective to current events and world affairs.

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