GST Collection in Dec 2023 rises 10% YoY to 1.65 lakh Crore




The goods and services tax (GST) revenue collected by the central and state governments in December was ₹1,64,882 crore (₹1.65 trillion). This is less than the average monthly revenue of ₹1.66 trillion so far this year, but it represents an increase of 10.3% over the previous year.

By December 2022, the Center and the states had amassed about ₹1.5 trillion in revenue.

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In a statement, the finance ministry stated that gross GST collection for the April–December fiscal year increased by 12% over the same period last year to ₹14.97 trillion.

The lowest GST receipts were recorded in December since October, when they peaked at ₹1.72 trillion, the second-highest amount for this fiscal year after a record ₹1.87 trillion in April. This suggests a slowdown following the pre-holiday months when companies restocked their supply chains, but closer to the conclusion of the fiscal year, receipts may see an additional uptick. This fiscal year, GST receipts have exceeded ₹1.6 trillion, with the exception of May and August.



According to the ministry, the states received ₹71,587 crore in December after the central government collected ₹70,501 crore from the settlement of taxes on interstate sales.

Experts noted that while a 12% increase in GST income this fiscal year would be quite close to the nominal GDP growth rate, additional revenue could be collected as a result of GST audits and enforcement actions. According to Vivek Jalan, partner at Tax Connect Advisory Services Llp, a consulting firm, the Center and the states may be anticipating some revenue buoyancy to be generated by the tax administration given that multiple years' assessments and show-cause notices are getting time-barred in the current financial year.


Experts noted that while a 12% increase in GST income this fiscal year would be quite close to the nominal GDP growth rate, additional revenue could be collected as a result of GST audits and enforcement actions. According to Vivek Jalan, partner at Tax Connect Advisory Services Llp, a consulting firm, the Center and the states may be anticipating some revenue buoyancy to be generated by the tax administration given that multiple years' assessments and show-cause notices are getting time-barred in the current financial year.

According to data, major state economies including Tamil Nadu, Karnataka, Maharashtra, and Uttar Pradesh reported revenue increase in December of between 12 and 19%.


The GST Network's official data showed that the number of e-way bills generated in November, which are necessary for the transportation of products between states and inside them, decreased to 87.5 million from over 100 million in October—the biggest number ever recorded during the GST system. To some extent, the trend in November's e-way bill creation is reflected in December's tax collection.

As a consumption tax, GST income is thought to represent both administrative attempts to increase collection and economic patterns in consumption.


The output of consumer durables, a measure of consumer sentiment and purchasing power, increased by 1.4% during the April–October period compared to the previous year, while the output of consumer non-durables, which are more frequently purchased, increased by 7.1%.