Centre logs 2nd highest GST revenue of ₹1.52 lakh crore in Oct

The central government has grossed the second highest monthly GST revenue in October 2022 at ₹1,51,718 crore, up 16.6% from ₹1,30,127 crore collected in October 2021.

"The gross GST revenue collected in the month of October 2022 is ₹1,51,718 crore of which CGST is ₹26,039 crore, SGST is ₹ 33,396 crore, IGST is ₹81,778 crore (including ₹37,297 crore collected on import of goods) and cess is ₹10,505 crore (including ₹825 crore collected on import of goods), which is second highest till date," the ministry of finance says in a release.

"Revenue for October 2022 is second highest monthly collection, next only to the collection in April 2022 and it is for the second time the gross GST collection has crossed Rs. 1.50 lakh crore mark," the ministry says.

October also saw the second highest collection from domestic transactions, next only to April 2022. This is the ninth month and for eight months in a row now, that the monthly GST revenues have been more than the ₹1.4 lakh crore mark.

During the month of September 2022, 8.3 crore e-way bills were generated, which was significantly higher than 7.7 crore e-way bills generated in August 2022, the ministry adds.

As per data from the ministry of finance, the government has settled ₹37,626 crore to CGST and ₹32,883 crore to SGST from IGST as regular settlement. In addition, the Centre has also settled ₹22,000 crore on adhoc basis in the ratio of 50:50 between Centre and states. The total revenue of Centre and the states after regular as well as adhoc settlements in the month of October 2022 is ₹74,665 crore for CGST and ₹77,279 crore for the SGST, as per the ministry.