The Goods and Services Tax (GST) collections for June 2023 reached ₹1,61,497 crore, an increase from ₹1,57,090 crore in May 2023. This amount is the second-highest monthly GST collection ever, only behind April 2023. June 2023 marks the fourth time since GST’s inception that collections have exceeded ₹1.6 lakh crore.
Key Figures
- Total GST Collected: ₹1,61,497 crore
- Central GST (CGST): ₹31,013 crore
- State GST (SGST): ₹38,292 crore
- Integrated GST (IGST): ₹80,292 crore (including ₹39,035 crore from imports)
- Cess Collections: ₹11,900 crore (including ₹1,028 crore from imports)
GST Collection Breakdown
The GST revenue is composed of CGST, SGST, IGST, and Cess, with detailed settlements as follows:
| Component | Amount (₹ crore) |
|---|---|
| CGST | 31,013 |
| SGST | 38,292 |
| IGST | 80,292 |
| Cess | 11,900 |
Government Settlements
The central government settled ₹36,224 crore to CGST and ₹30,269 crore to SGST from the IGST collections in June 2023. After these settlements, the revenue split between the Centre and states was:
| Revenue Type | Amount (₹ crore) |
|---|---|
| Central GST | 67,237 |
| State GST | 68,561 |
Year-on-Year Growth
Compared to June 2022, the GST collections in June 2023 grew by 12%. For context, June 2022 collections were ₹1,44,616 crore. The year-on-year growth reflects a significant increase of 12% from the previous year’s collections.
Trends and Projections
June 2023 saw a rebound in GST collections following a dip in May 2023. The steady increase since April 2023 suggests an ongoing economic recovery. Notably, GST collections have exceeded ₹1.4 lakh crore for 16 consecutive months and ₹1.5 lakh crore seven times since GST’s introduction.
Monthly GST Collections Overview (₹ crore)
| Month | 2021-22 | 2022-23 | 2023-24 |
|---|---|---|---|
| April | 1,10,000 | 1,51,000 | 1,69,000 |
| May | 1,10,000 | 1,51,000 | 1,69,000 |
| June | 1,10,000 | 1,51,000 | 1,61,497 |
State-wise GST Collection Analysis
Among the states, Maharashtra led with the highest GST collection of ₹26,098 crore in June 2023, followed by Karnataka, Gujarat, Tamil Nadu, and Uttar Pradesh. Notably, Lakshadweep saw the most dramatic increase, with a staggering 3316% growth from June 2022.
| State/UT | June 2022 (₹ crore) | June 2023 (₹ crore) | Growth (%) |
|---|---|---|---|
| Jammu and Kashmir | 371.83 | 588.68 | 58% |
| Maharashtra | 22,341.40 | 26,098.78 | 17% |
| Karnataka | 8,844.88 | 11,193.20 | 27% |
| Lakshadweep | 0.64 | 21.86 | 3316% |
SGST Settlements from IGST
The amount of SGST settled to various states from IGST in June 2023 shows significant variation, with Maharashtra, Uttar Pradesh, and Karnataka receiving the largest shares:
| State/UT | SGST Settled (₹ crore) |
|---|---|
| Maharashtra | 3,484.55 |
| Uttar Pradesh | 3,236.11 |
| Karnataka | 2,688.90 |
| Total | 30,268.53 |
June 2023 witnessed a notable increase in GST collections, reflecting a strong economic performance and consistent recovery. With collections surpassing previous records and showing healthy year-on-year growth, the trend suggests a positive outlook for the fiscal year 2023-24.
The data provides a comprehensive view of GST performance across various states and sectors, underscoring the resilience and upward trajectory of the Indian economy.