According to GST revenue data released on Saturday 1 October, the gross GST revenue collected in the month of September 2022 increased from 26% year-to-year to Rs 1,47,686 crore as against Rs 1,17,010 crore in the month of September 2021.
The gross GST revenue in August 2022 was Rs 1,43,612 crore, while September 2022 increased to Rs 1,47,686 crore, which is an increase of more than 2% month-on-month basis.
The government has settled the CGST of Rs 31,880 crore from IGST as a regular settlement, after which the total revenue in September 2022 is Rs 57,151 crore for CGST.
Integrated Goods and Services Tax (IGST) in the month of September 2022 stood at Rs 80,464 crore as against Rs 77,782 crore in the month of August 2022. In the month of September 2022, the Integrated Goods and Services Tax (IGST) collected on the import of goods was Rs 41,215 crore.
In August 2022, the cess was Rs 10,168 crore while in September 2022 fell to Rs 10,137 crore. In the month of September 2022, the cess collected on the import of goods was Rs 856 crore.
The Central Goods and Services Tax (CGST) collection in September 2022 was Rs 25,271 crore and the State Goods and Services Tax (SGST) was Rs 31,813 crore. The total revenue of the states is Rs 59,216 crore for State Goods and Services Tax (SGST) after regular settlement to 27,403 crore SGST in the month of September 2022.
In August 2022, CPI inflation rose year-on-year to 7.0 percent as against 6.7 percent in July. On 30 September, the Reserve Bank of India increased the repo rate from 50 basis points to 5.90 percent under the Liquidity Adjustment Facility (LAF) to control the rising inflation.