Maharashtra sees 24% improvement in GST income diversification in 12 months

The Federal Government has settled ₹29,524 crore to CGST and ₹25,119 crore to SGST from IGST. The total income of the Center and States during August 2022 after joint settlement is ₹ 54,234 crore for CGST and ₹ 56,070 crore for SGST .

Revenue for August 2022 is 28% greater of GST revenue in the same last 12 months of Rs 1,12,020 crore. Over the month, revenue from product imports was 57% higher, and revenue from home transactions (along with importing suppliers) was 19% higher than revenue from these sources during the same 12-month month

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For six consecutive months now, month-to-month GST revenue has been greater than the ₹1.4 crore mark. The expansion of GST income through August 2022 over an identical 12-month period is 33%, with persistence to show extremely excessive buoyancy. It is a clear effect of the various measures taken by the Council before now to ensure high compliance. Higher reporting combined with financial recovery had a constructive effect on GST revenue on a consistent basis. Throughout July 2022, electronic payments of Rs 7.6 crore were generated, which was slightly larger than Rs 7.4 crore in June 2022 and 19% greater than Rs 6.4 crore in July 2021.

Explains Graph below features in total month-to-month GST revenue over the current twelve months. The office discloses government GST figures collected in each state during August 2022 compared to August 2021.

1,43,612 cr. Total GST income collected in August 2022

Revenue 28% more than GST revenue on August 22 compared to the same month in 2021

Month to month GST revenue is greater than ₹1.4 lakh. For six consecutive months

Maharashtra GST on 22nd August is 18,863 crores. https://t.co/m6FSW7w0YV pic.twitter.com/AjaqU0SeIt

– PIB in Maharashtra 🇮🇳 (PIBMumbai) September 1, 2022

In response to a disclosed government knowledge, Maharashtra collected GST income of INR 18,863 crore during August 2022, which shows 24 per cent Development in 12 months compared to INR 15,175 crore on August 21.

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