'Great news' says PM Modi as GST revenue for April 2023 highest ever at Rs 1.87 Lakh Cr

The Goods and Services Tax (GST) collection grew by 12% in April to Rs 1.87 lakh crore, the highest-ever monthly mop-up since the rollout of the indirect tax regime. The gross GST revenue collection for April 2023 is Rs 1,87,035 crore of which SGST is Rs 47,412 crore, CGST Rs 38,440 crore, IGST Rs 89,158 crore and cess is Rs 12,025 crore.

"The government has settled Rs 45,864 crore to CGST and Rs 37,959 crore to SGST from IGST. The total revenue of Centre and the States in the month of April 2023 after the regular settlement is Rs 84,304 crore for CGST and Rs 85,371 crore for the SGST," the government said on Monday, May 1.

'Great news for Indian economy': PM Modi

Prime Minister Narendra Modi called this a great news for the Indian economy. He said, "Rising tax collection despite lower tax rates shows the success of how GST has increased integration and compliance."

The revenues from domestic transactions (including import of services) in April 2023 are 16% higher than the revenues from these sources during the same month last year.

"For the first time gross GST collection has crossed ₹1.75 lakh crore mark. Total number of e-way bills generated in the month of March 2023 was 9.0 crore, which is 11% higher than 8.1 crore e-way bills generated in the month of February 2023," the Finance Ministry said.

In April 2023, the highest-ever tax collection on a single day was on April 20 at Rs 68,228 crore, which was paid through 9.8 lakh transactions. The highest single-day payment (on the same date last year) was Rs 57,846 crore through 9.6 lakh transactions.