In comparison to the Rs. 3,760 crore collected in the same month in 2021, the State collected Rs. 4,178 crore in December 2022.
Hyderabad: Telangana has continuously increased its GST (Goods and Sales Tax) receipts, with the State recording a rise of 11% over the previous year in December 2022.
In comparison to the Rs. 3,760 crore received in the same month in 2021, the State collected Rs. 4,178 crore in December 2022, according to data issued by the Union Ministry of Finance on Sunday. Compared to the same period in 2021, the State has maintained a stable growth rate, ranging from 10 to 12 percent each month.
Meanwhile, nationwide, the Rs. 1,49,507 crore GST Revenue received for December 2022 saw a growth of 15%. Year-on-Year.
In December 2022, the MoF reported that gross GST income totaled Rs. 1,49,507 crore. Of this amount, the CGST was Rs. 26,711 crore, the SGST was Rs. 33,357 crore, the IGST was Rs. 78,434 crore (including Rs. 40,263 crore collected on import of goods), and the Cess was Rs. 11,005 crore (including Rs.850 crore collected on import of goods).
The release stated that the Centre had paid regular settlements of Rs. 36,669 crore to the CGST and Rs. 31,094 crore to the SGST from IGST. It also stated that the total revenue of the Centre and the States in December 2022 after regular settlements was Rs. 63,380 crore for the CGST and Rs. 64,451 crore for the SGST.
The revenue for December 2022 was 15% greater than the GST income for the same month in the previous year. When compared to the same month last year, the income from domestic transactions, which includes the import of services, was 18% higher during the month and the income from imported commodities was 8% higher. According to the press release, 7.9 crore e-way bills were produced in November 2022, a considerable increase over the 7.6 crore produced in October 2022.
