Goods and Services Tax (GST) collection in December 2023 rose by 10 per cent to Rs 1.64 lakh crore, showed government data on Monday.

At Rs 1,64,882 crore, the revenues for December 2023 were 10.30 per cent higher than the GST revenues in the same month last year, said Ministry of Finance.  

However, GST collection fell to a three-month low in December. The December 2023 collections are lower than Rs 1.68 lakh crore collected in November and even down from Rs 1.72 lakh crore mopped up in October, which was the second-highest collection ever since the GST rollout. 

During the April-December 2023 period, gross GST collection witnessed a robust 12 per cent YoY growth, reaching Rs 14.97 lakh crore as against Rs 13.4 lakh crore collected in the same period of the previous year (April-December 2022). 

Average monthly gross GST collection of Rs 1.66 lakh crore in the first nine months of FY24 represented a 12 per cent increase compared to the Rs 1.49 lakh crore average recorded in the corresponding period of FY23, said the ministry.  

The gross GST revenue collected in December 2023 is Rs 1,64,882 crore, of which CGST is Rs 30,443 crore, SGST is Rs 37,935 crore, IGST is Rs 84,255 crore (including Rs 41,534 crore collected on import of goods) and cess is Rs 12,249 crore (including Rs 1,079 crore collected on import of goods). Notably, this marks the seventh month so far this year with collections exceeding Rs 1.60 lakh crore. 

The government has settled Rs 40,057 crore to CGST and Rs 33,652 crore to SGST from IGST. The total revenue of the Centre and the States in December 2023 after regular settlement is RS 70,501 crore for CGST and Rs 71,587 crore for the SGST.