Maharashtra leads in GST collections, Karnataka at 2nd spot

Maharashtra accounted for the largest GST revenue among states during March this year with a collection of Rs 22, 695 crore which was an 11% increase over the same month last year, according to official figures released by the Finance Ministry.

Karnataka was placed at the second spot with a GST collection of Rs 10,360 crore that was 18.4% higher than the amount raised in March 2022.

Gujarat was at the third position with a GST collection of Rs 9,919 crore during the month followed closely by Tamil Nadu with Rs 9,245 crore.

Haryana, adjoining Delhi, which is home to the country’s largest car maker Maruti Suzuki, was ranked at the fifth spot with a GST collection of Rs 7,780 crore.

India’s total gross GST revenue collected in the month of March 2023 shot up to Rs 1,60,122 crore which is the second highest collection ever, next only to the collection in April 2022, the figures showed.

Monthly GST revenues of more than Rs 1.4 lakh crore have now been collected for 12 months in a row which shows that economic activity in the country has been growing at a robust pace.

The revenues for the month of March 2023 are 13% higher than the GST revenues in the same month last year. During the month, revenues from import of goods was 8% higher and the revenues from domestic transactions (including import of services) are 14% higher than the revenues from these sources during the same month last year.

The total gross GST collection for the financial year 2022-23 now stands at Rs 18.10 lakh crore which represents a healthy 22% growth over the corresponding figure for last year.

The average gross monthly GST collection for the full financial year works out Rs 1.51 lakh crore.