GST REVENUES HIT A RECORD ₹1.59 LAKH CRORE IN JANUARY

  • India’s Goods and Services Tax (GST) revenues grew 12.7% in January to hit almost ₹1.59 lakh crore, the second highest monthly collections on record, as per revised figures from the Finance Ministry.
  • Earlier estimates of GST revenues for January had pegged collections at about ₹1.56 lakh crore till the evening of January 31 — 10.6% higher than the GST receipts in January 2022.
  • Based on the updated GST collections, the Finance Ministry’s monthly economic review released on Thursday said the total GST revenues between April 2022 and January 2023 now stand at ₹14.9 lakh crore, 23.1% higher than the corresponding period of 2021-22.

Robust scenario

  • “Domestic economic activity remains robust even as a global economic slowdown materialises, as evident in the second highest-ever GST collections of ₹1.6 lakh crore in January 2023. GST collections have now remained above the ₹1.4 lakh crore mark for 11 successive months,” the review noted.
  • The review shows year-on-year growth in January’s GST collections at 12.7%, which translates into about ₹1,58,891 crore, compared to collections of ₹1,40,986 crore in January 2022.

SOURCE: THE HINDU, THE ECONOMIC TIMES, PIB

About sree nivas

Check Also

Corrupt practices under RPA

Corrupt practices under RPA,1951

What is the Representation of People Act, 1951? The electoral framework in India is regulated …

Leave a Reply

Your email address will not be published. Required fields are marked *

Get Free Updates to Crack the Exam!
Subscribe to our Newsletter for free daily updates