GST collections for December rise 2.5% to Rs 1.5 lakh crore

Representative image

India collected Rs 1.5 lakh crore as Goods and Services Tax (GST) in December, the finance ministry said on January 1. At Rs 1.5 lakh crore, the GST collections for December were up 15.2 percent compared to the last month of 2021, and 2.5 percent higher from November.

Gross GST collections stood at Rs 1.46 lakh crore in November 2022 and Rs 1.3 lakh crore in December 2021.

The latest number means GST collections have now exceeded the Rs 1.4-lakh crore mark for 10 months in a row.

ALSO READ: Govt tweaks GST rules for claiming input tax credit

Source: Ministry of Finance (Green is for FY23, Blue for FY22)

In December, Central GST was Rs 26,711 crore, while State GST was Rs 33,357 crore. Integrated GST was Rs 78,434 crore and cess was Rs 11,005 crore.

The government settled Rs 36,669 crore to Central GST and Rs 31,094 crore to State GST from Integrated GST. As such, post-settlement, the total revenue of the Centre and the states in December was Rs 63,380 crore and Rs 64,451 crore, respectively.

ALSO READ: You can now recover GST paid on under-construction property if the deal is called off

In a positive shift from November, only 11 states and Union Territories (UTs) saw their GST collections grow by under 14 percent in December.

In November, all but eight states and UTs had witnessed sub-14 percent growth in their revenues.

In December, the states and UTs which saw sub-14 percent growth were: Himachal Pradesh (7 percent), Punjab (10 percent), Manipur (-5 percent), Assam (13 percent), Odisha (-6 percent), Chhattisgarh (0 percent), Daman and Diu (-86 percent), Goa (-22 percent), Lakshadweep (-36 percent), Andaman and Nicobar Islands (-19 percent), and Telangana (11 percent).

With the protected GST revenue period having ended on June 30, states are no longer compensated if their collections are not 14 percent or higher compared to the corresponding month of last year.