GST collections in the first 11 months of FY23 have already touched ₹16.46 lakh crore, a robust 22.7% year-on-year growth, according to data from the finance ministry. It is expected that the growth trend will be maintained even in the last month and at least ₹1.50 lakh crore revenue is expected in March, the officials added, on condition of anonymity.
“According to a conservative estimate, even if the average ₹1.49 lakh crore monthly GST collection (thus far in 2022-23) is maintained in the month of March, the total GST revenue for 2022-23 would be ₹17.88 lakh crore, which is quite close to ₹18 lakh crore mark. We expect to do better as collection data is still coming in,” one of them said.
The uptrend in GST collections — both for the Centre and states — was anticipated in advance. Hence, the Union government raised GST revenue numbers in the revised estimates (RE) for 2022-23, a second official said.
This story is from the March 31, 2023 edition of Hindustan Times.
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This story is from the March 31, 2023 edition of Hindustan Times.
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