The Goods and Services Tax (GST) collection in India for the month of June 2023 was Rs 1.6 trillion. This is a 12% increase from the previous month and the highest ever monthly GST collection in India.
The collection of Rs 1.6 trillion is more than the target of Rs 1.53 trillion set by the government. The collection was driven by strong growth in the manufacturing and services sectors.
The top 10 states in India with the highest GST collection in june 2023
| Rank | State | GST Collection (in crores) |
|---|---|---|
| 1 | Maharashtra | 26,098.78 |
| 2 | Karnataka | 8,844.88 |
| 3 | Gujarat | 10,119.71 |
| 4 | Tamil Nadu | 5,531.98 |
| 5 | Uttar Pradesh | 8,104.15 |
| 6 | Haryana | 7,988.18 |
| 7 | Delhi | 4,744.11 |
| 8 | Telangana | 4,379.98 |
| 9 | Odisha | 4,098.98 |
| 10 | West Bengal | 5,053.87 |
The manufacturing sector grew by 19.6% in June 2023 compared to the same month last year. The services sector grew by 8.3% in June 2023 compared to the same month last year.
The growth in the manufacturing and services sectors is a positive sign for the Indian economy. It shows that the economy is recovering from the COVID-19 pandemic and is on track to achieve its growth target of 8% for the financial year 2023-24.
The GST collection is also a positive sign for the government. It shows that the government is able to collect enough revenue to fund its expenditure and meet its fiscal deficit target.
The government has set a target of collecting Rs 14.7 trillion GST revenue in the financial year 2023-24. The collection of Rs 1.6 trillion in June 2023 is a good start to achieving this target.
Here are some of the key takeaways from the GST collection:
- The GST collection in India for the month of June 2023 was Rs 1.6 trillion.
- This is a 12% increase from the previous month and the highest ever monthly GST collection in India.
- The collection of Rs 1.6 trillion is more than the target of Rs 1.53 trillion set by the government.
- The collection was driven by strong growth in the manufacturing and services sectors.
- The growth in the manufacturing and services sectors is a positive sign for the Indian economy.
- The GST collection is also a positive sign for the government.
- The government has set a target of collecting Rs 14.7 trillion GST revenue in the financial year 2023-24.
- The collection of Rs 1.6 trillion in June 2023 is a good start to achieving this target.