The Goods and Services Tax (GST) collection for the financial year 2022-23 has impressively surpassed the £18 lakh crore mark, reaching a total of £18.10 lakh crore. This represents a significant 22% increase compared to the previous year. The month of March 2023 alone saw a gross GST revenue of £1,60,122 crore, making it the second-highest monthly collection ever recorded since the inception of GST. Furthermore, monthly GST revenues have consistently exceeded £1.4 lakh crore for 12 consecutive months.
₹1,60,122 crore gross GST revenue collected for March 2023
Second highest collection ever, next only to the collection in April 2022 Monthly GST revenues more than ₹1.4 lakh crore for 12 months in a row, with ₹1.6 lakh crore crossed for the 2nd time since inception of GST GST revenues clock 13% g
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FAQ :
The total gross GST collection for the financial year 2022-23 stood at £18.10 lakh crore.
In March 2023, the gross GST revenue collected was £1,60,122 crore.
March 2023's collection was the second-highest ever recorded, surpassed only by April 2022.
Gross GST revenues in FY23 were 22% higher than in the previous year.
GST revenues exceeded £1.4 lakh crore for 12 months in a row during FY23.
The average gross monthly GST collection for the full financial year 2022-23 was £1.51 lakh crore.