In October 2022, the Goods and Services Tax (GST) collections for September 2022 once again exceeded Rs. 1.4 lakh crore, nearing the Rs. 1.5 trillion milestone. The Ministry of Finance released a statement on October 1, 2022, providing details on these collections. This article explores the key highlights of the September GST revenue.

September 2022 GST Collection Overview

For September 2022, the total GST revenue reached Rs. 1,47,686 crores. This amount comprised Rs. 25,271 crores from Central GST (CGST) and Rs. 31,813 crores from State GST (SGST). Integrated GST (IGST) collection was Rs. 80,464 crores, which included Rs. 41,215 crores from taxes on imported goods. Additionally, the cess collected amounted to Rs. 10,137 crores, with Rs. 856 crores specifically from imported goods. Following the IGST settlement, the Central government allocated Rs. 31,880 crores to CGST and Rs. 27,403 crores to SGST. Consequently, the combined GST collection for the Centre and all states/union territories, after settlement, was Rs. 57,151 crores for CGST and Rs. 59,216 crores for SGST.

Analysis of September 2022 GST Collection Trends

Compared to September 2021, when GST collections were Rs. 1,17,010 crores, the September 2022 figures represent a significant 26% increase. There was also a slight increase from August 2022, which recorded Rs. 1,43,612 crores in GST collection. These statistics demonstrate a consistent growth trend, with monthly collections consistently surpassing Rs. 1.4 lakh crore. The GST revenue growth for the period ending September 2022 showed a 27% increase year-on-year, indicating a healthy economic environment. Collections from the import of goods sector increased by 39% month-over-month. Domestically, collections rose by 22% compared to August 2022. The strong September 2022 GST collection can be attributed to various revenue-enhancing measures implemented by the GST Council, aiming for better compliance. Factors such as the start of the festive season, improved reporting on the GST portal, and a steady economic recovery collectively contributed to this positive revenue performance. In August 2022, Indian businesses generated more than 7.7 crore e-way bills, a marginal increase from 7.5 crore e-way bills in July 2022. Furthermore, the official press release highlighted a significant achievement on September 30, 2022, when over 1.1 crore e-way bills and e-invoices combined were generated through the NIC portals.

State-wise GST Collection for September 2022

Maharashtra recorded the highest state-wise GST collection for September 2022, totaling Rs. 21,403 crore. Karnataka, Gujarat, Haryana, and Tamil Nadu followed. Several states and Union Territories, including Bihar, Nagaland, Lakshadweep, and the Andaman and Nicobar Islands, demonstrated notable year-on-year growth in their GST revenue. Conversely, Daman and Diu experienced a year-on-year decline.

The government affirmed that the consistent monthly GST collection growth stems from ongoing enhancements to the GST portal, making it more efficient. They also highlighted that monthly GST revenues have surpassed Rs. 1.4 lakh crore for seven consecutive months. Future updates on October 2022 GST Collection will be provided.