Meghalaya continues to post growth in GST revenue collected in the month of October this year compared to October 2022.
As per the data provided by the Union Finance Ministry, the pre-settlement State GST (SGST) till October this year was Rs 353 crore compared to Rs 265 crore in 2022. This marked a growth of 33 per cent.
Further, the post-settlement SGST for Meghalaya till October this year was Rs 988 crore as compared to Rs 841 last year. This showed a growth of 17 per cent.
In the country as a whole, the gross GST revenue collected in the month of October 2023 is Rs 1,72,003 crore out of which Rs 30,062 crore is CGST, Rs 38,171 crore is SGST, Rs 91,315 crore (including Rs 42,127 crore collected on import of goods) is IGST and Rs 12,456 crore (including Rs 1,294 crore collected on import of goods) is cess.
The Central government has settled Rs 42,873 crore to CGST and Rs 36,614 crore to SGST from IGST. The total revenue of Centre and the states in the month of October 2023 after regular settlement is Rs 72,934 crore for CGST and Rs 74,785 crore for SGST.
“The gross GST revenue for the month of October 2023 is 13 per cent higher than that in the same month last year. During the month, revenue from domestic transactions (including import of services) is also 13 per cent higher than the revenues from these sources during the same month last year. The average gross monthly GST collection in the FY 2023-24 now stands at Rs. 1.66 lakh crore and is 11 per cent per cent more than that in the same period in the previous financial year,” the Finance Ministry said.
