IT News
Imphal, Apr 9:
The government of Manipur this time shows a quantum jump in the revenue collection this year crossing half mark of the targeted revenue.
As per a source, a provisional calculation of the monthly revenue collected from Value Added Tax (VAT), Goods and Service Tax (SGST) and Professional tax is Rs. 2,225.4 crore. From April 2022 to March 2023 provisional calculation of the revenue collected within this month reached Rs. 1,887.82 crores, that is 84% of the Revenue target has been collected by the state government.
In SGST alone the state government of Manipur targeted to collect Rs. 1705.40/- Crore. Revenue collected from this SGST is Rs. 1434.96 Crore. A sum of Rs. 427.66 Crore can be collected from VAT and an amount of Rs, 25.02 is collected as Professional Tax.
As for the country the gross GST revenue collected in the month of March 2023 is Rs. 1,60,122 crore of which CGST is Rs. 29,546 crore, SGST is Rs. 37,314 crore, IGST is Rs. 82,907 crore (including Rs. 42,503 crore collected on import of goods) and cess is Rs. 10,355 crore (including Rs. 960 crore collected on import of goods). It is for the fourth time, in the current financial year that the gross GST collection has crossed Rs. 1.5 lakh crore mark registering second highest collection since implementation of GST. This month witnessed the highest IGST collection ever.
The government has settled Rs. 33,408 crore to CGST and Rs. 28,187 crore to SGST from IGST as regular settlement. The total revenue of Centre and the States in the month of March 2023 after IGST settlement is Rs. 62,954 crore for CGST and Rs. 65,501 crore for the SGST.
The revenues for the month of March 2023 are 13% higher than the GST revenues in the same month last year. During the month, revenues from the import of goods were 8% higher and the revenues from domestic transactions (including import of services) are 14% higher than the revenues from these sources during the same month last year. The return filing during March 2023 has been the highest ever. 93.2% of statements of invoices (in GSTR-1) and 91.4% of returns (in GSTR-3B) of February were filed till March 2023 as compared to 83.1% and 84.7%, respectively same month last year.
The total gross collection for 2022-23 stands at Rs. 18.10 lakh crore and the average gross monthly collection for the full year is Rs. 1.51 lakh crore. The gross revenues in 2022-23 were 22% higher than that last year. The average monthly gross GST collection for the last quarter of the FY 2022-23 has been Rs. 1.55 lakh crore against the average monthly collection of Rs. 1.51 lakh crore, Rs. 1.46 lakh crore and Rs. 1.49 lakh crore in the first, second and third quarters respectively.
