Tripura’s impressive streak of GST collection success continued into August 2023, with the state achieving a remarkable 40 per cent increase compared to the same month in 2022.
As per an official press release from the Press Information Bureau (PIB), Tripura reported a substantial GST collection of Rs 78 crore in August 2023. In comparison, during the same period in August 2022, the state had collected Rs 56 crore in GST revenue. This substantial growth represents an impressive 40 per cent increase, making it the second-highest growth rate in the entire country.
Lakshadweep recorded the highest growth rate of 853 per cent. Its GST collection in August 2022 was nil, but in August 2023, the Union Territory managed to collect a noteworthy Rs 3 crore in GST revenue, demonstrating an astonishing growth rate of 853%.
In the country, the gross GST revenue collected in the month of August 2023 is Rs 1,59,069 crore of which CGST is Rs 28,328 crore, SGST is Rs 35,794 crore, IGST is Rs 83,251 crore (including Rs 43,550 crore collected on import of goods) and Cess is Rs 11,695 crore (including Rs 1,016 crore collected on import of goods).
The government has settled Rs 37,581 crore to CGST and Rs 31,408 crore to SGST from IGST. The total revenue of the Centre and the States in the month of August 2023 after regular settlement is Rs 65,909 crore for CGST and Rs 67,202 crore for the SGST.
The revenues for the month of August 2023 are 11 per cent higher than the GST revenues in the same month last year. During the month, revenue from the import of goods was 3 per cent higher and the revenues from domestic transactions (including import of services) were 14 per cent higher than the revenues from these sources during the same month last year.