NEW DELHI: Gross GST income receipts in December totalled practically Rs 1.5 lakh crore, up 15% year-on-year, signalling that demand stays sturdy and efforts to spice up compliance have had an impression.
Data launched by the finance ministry on Sunday confirmed gross GST revenues had been Rs 1.49 lakh crore in December, the tenth consecutive month revenues had been greater than Rs 1.4 lakh crore.

During the month, revenues from import of products had been 8% larger and the revenues from home transactions (together with import of companies) had been 18% larger than the revenues from these sources throughout the identical month final yr. In November, 7.9 crore e-way payments had been generated, which was considerably larger than 7.6 crore e-way payments generated in October, 2022.
Government officers have mentioned they anticipate buoyancy to proceed within the months forward because of the tighter audit and rising compliance and hoped that Rs 1.5 lakh crore could be the “new normal” for GST receipts. Month-on-month there was a rise of two.5%, the information confirmed.
The authorities has settled Rs 36,669 crore to CGST and Rs 31,094 crore to SGST from IGST as common settlement. The complete income of the centre and the states after common settlements within the month of December 2022 is Rs 63,380 crore for CGST and Rs 64,451 crore for the SGST.
The newest information confirmed that demand stays sturdy regardless of worries a few slowdown as a result of impression of a string of things together with cussed inflationary pressures.
Experts additionally pointed to sturdy financial indicators which had helped maintain demand.

“An 18% increase in the GST revenues from domestic transactions viewed with the increase in e-way bill issuance and the significant increase in GST collections by key manufacturer and consuming states , would be indicative of a sustained manufacturing and consumption cycle across recent months,” mentioned MS Mani, accomplice at consulting agency Deloitte.
“The steady increase in GST collections across recent months, while being reflective of the manufacturing and consumption stability across states, would also tie up with key macroeconomic indicators, which have been pointing to a good economic performance across key sectors,” mentioned Mani.
The Centre has additionally taken plenty of measures to plug loopholes and increase compliance which have proven outcomes whereas the opening of financial exercise after the pandemic has revived consumption.