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March Sees Second Highest GST Collection Of Rs 1 60 Lakh Crore

GST collections in March grew 13 per cent to the second highest ever at Rs 1.60 lakh crore, taking the growth rate of revenue mop-up for full 2022-23 fiscal to 22 per cent.

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GST revenues grow 13% to Rs 1 60 lakh crore in March

GST revenues grow 13% to Rs 1 60 lakh crore in March
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GST Mop-Up In March At Rs 1 60 Lakh Crore, Second Highest Ever

GST Mop-Up In March At Rs 1 60 Lakh Crore, Second Highest Ever
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March GST revenue of Rs 1 60 lakh cr is second highest ever

GST collections in March grew 13 per cent to the second highest ever at Rs 1.60 lakh crore, taking the growth rate of revenue mop-up for full 2022-23 fiscal to 22 per cent. March also saw over 91 per cent of the GST registered businesses filing returns and paying taxes - reflecting greater compliance and improving economic activity. Gross GST revenue collected in March 2023 is Rs 1,60,122 crore, of which Central GST is Rs 29,546 crore, State GST is Rs 37,314 crore, Integrated GST is Rs 82,907 crore (including Rs 42,503 crore collected on import of goods) and cess is Rs 10,355 crore, the finance ministry said in a statement.

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Income tax returns (ITRs) - Buoyant tax collections cushion Government on fiscal front, Income Tax Return reforms likely next year

Going forward, the government may also look at stricter tax deduction norms for e-commerce and online service providers, besides online gaming

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