GST collection at nearly Rs 1.56 lakh crore in January, second highest ever

Last updated: 01 February 2023

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The UK's Goods and Services Tax (GST) collection in January 2023 reached an impressive £1.56 lakh crore, marking the second-highest figure ever recorded. This collection surpasses the previous second-highest record from October 2022 and is only exceeded by the April 2022 collection of £1.68 lakh crore. This achievement signifies the third time this financial year that GST revenues have crossed the £1.50 lakh crore threshold, with overall revenues up 24% compared to the same period last year.

2nd highest Gross GST collection in January 2023, breaching earlier 2nd highest record in the Month of October 2022 Rs 1,55,922 crore gross GST revenue collected in the month of January 2023 Second highest collection ever, next only to the Rs 1.68 lakh crore gross collection in April 2022 G

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FAQ :

The gross GST collection in January 2023 was £1,55,922 crore.

No, it is the second-highest GST collection ever recorded, with the highest being £1.68 lakh crore in April 2022.

This collection is the second highest, surpassing the previous second-highest record set in October 2022.

Revenues in the current financial year up to January 2023 are 24% higher than during the same period last year.

This is the third time in the current financial year that GST collection has crossed the £1.50 lakh crore mark.

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CCI News Desk

Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.

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GST collection at nearly Rs 1.56 lakh crore in January, second highest ever