GUWAHATI: The Gross Goods and Services Tax (GST) revenue collected in October 2023 reached ₹1,72,003 crore across the country, showcasing a 13 per cent increase compared to the same month last year.
This revenue distribution includes ₹30,062 crore for Central Goods and Services Tax (CGST), ₹38,171 crore for State Goods and Services Tax (SGST), ₹91,315 crore for Integrated Goods and Services Tax (IGST), which encompasses ₹42,127 crore collected on import of goods, and ₹12,456 crore for various cesses, including ₹1,294 crore collected on the import of goods.
A crucial aspect of this financial transaction is the settlement process where the government allocated ₹42,873 crore to CGST and ₹36,614 crore to SGST from IGST.
After this regular settlement, the combined revenue for both the Central and State components is estimated at ₹72,934 crore for CGST and ₹74,785 crore for SGST.
In the period from April to October in the financial years 2022-23 and 2023-24, Assam exhibited notable growth, with pre-settlement SGST increasing from ₹2,987 crore to ₹3,428 crore, marking a 15 per cent growth.
Post-settlement SGST also demonstrated progress, with revenues surging from ₹7,237 crore to ₹8,470 crore, indicating a similar 17 per cent increase.