NEW DELHI: The GST revenue collection for the month of April was praised on Monday by Prime Minister Narendra Modi as "great news for the Indian economy." The GST revenue statistics increased by 12 over the previous year, reaching a monthly revenue record of Rs. 1.87 lakh crore. The GST revenue has now reached Rs. 1.75 lakh crore for the first time. Additionally, at Rs. 18.10 lakh crore, the gross GST collection for the fiscal year 2022–23 was 22% higher than the previous fiscal year.

The prime minister tweeted on Monday, "Great news for the Indian economy! The fact that tax collections are increasing despite lower tax rates demonstrates how well the GST has increased compliance and integration.

The biggest amount of tax ever collected in a single day was Rs. 68,228 crore on April 20, 2023, from 9.8 lakh transactions. Last year (on the same date), 9.6 lakh transactions totaled Rs. 57,846 crore, the largest single-day payment.

The total GST revenue collected in April 2023 was Rs. 1,87,035 crore, of which Rs. 38,440 crore came from CGST, Rs. 47,412 crore from SGST, Rs. 89,158 crore from IGST (including Rs. 34,972 crore from goods imports), and Rs. 12,025 crore from cess (including Rs. 901 crore from goods imports).

The central government sent IGST payments totaling Rs. 37,959 crore to SGST and Rs. 45,864 crore to CGST for the month of April. Following the regulatory resolution, the combined revenue for the months of April 2023 for the CGST and SGST is Rs. 84,304 crore and Rs. 85,371 crore, respectively.

When compared to the revenue from these sources in the same month the previous year, the GST revenue from domestic transactions in April—which includes the import of services—was 16% higher.

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