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India’s GST revenue for September is at Rs 1.62 lakh crore, J&K registers 32% growth in collection

India's GST collection continues to be strong

India’s gross goods and service tax (GST) revenue in September stood at Rs 1,62,712 crore, a growth of 10 per cent. In the corresponding month last year, the GST collection stood at Rs 1.47 lakh crore. It is for the fourth time that the gross GST collection has crossed Rs 1.60 lakh crore mark in the ongoing financial year.

Of the total GST amount, Central GST stood at Rs 29,818 crore and State GST at Rs 37,657 crore. Integrated GST was at Rs 83,623 crore (including ₹41,145 crore collected on import of goods) and cess of Rs 11,613 crore.

A healthy GST collection among other things reflects buoyancy in the economy.

Notably, GST collection in Jammu and Kashmir at Rs 563 crore compared to Rs 428 crore in September last year marks a 32 per cent growth.

Bihar’s GST collection reflected a contraction of 5 per cent. For Meghalaya and Assam there has been an increase of 2 per cent respectively while West Bengal registered a 3 per cent growth.

The gross GST collection for the first half of the current financial year April to September period has been Rs 9,92,508 crore—11 per cent higher than the gross GST collection in the first half of FY 2022-23 at Rs 8,93,334 crore.

The average monthly gross collection in 2023-24 is at Rs 1.65 lakh crore, which is 11 per cent higher than average monthly gross collection for first half of 2022-23 when it was Rs 1.49 lakh crore.

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