Telangana has maintained a consistent increase in Goods and Sales Tax (GST) revenues, with the state recording an 11% year-on-year increase in December 2022.
According to figures released on Sunday by the Union Ministry of Finance, the State collected Rs.4,178 crore in December 2022, up from Rs.3,760 crore in the same month in 2021. In comparison to the same period in 2021, the state has maintained a consistent growth percentage ranging from 10% to 12% each month.
Meanwhile, the Rs.1,49,507 crore GST revenue collected for December 2022 increased by 15% year on year across the country. According to a press release from the MoF, the gross GST revenue collected in December 2022 was Rs.1,49,507 crore, of which CGST was Rs.26,711 crore, SGST was Rs.33,357 crore, IGST was Rs.78,434 crore (including Rs.40,263 crore collected on import of goods), and Cess was Rs.11,005 crore (including Rs.850 crore collected on import of goods).
As per the release, the Centre has settled Rs.36,669 crore to CGST and Rs.31,094 crore to SGST from IGST as regular settlement, bringing the total revenue of the Centre and the States after regular settlements in the month of December 2022 to Rs.63,380 crore for CGST and Rs.64,451 crore for SGST.
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The revenues for December 2022 were 15% higher than the GST revenues for the same month last year.
Revenues from imports of goods were 8% higher during the month, and revenues from domestic transactions (including imports of services) were 18% higher than during the same month last year. The press release added that 7.9 crore e-way bills were generated in November 2022, which was significantly higher than the 7.6 crore e-way bills generated in October 2022.
Telangana GST collections (Rs. Crore)
Month 2021 2022 Y-on-Y Growth
August 3,526 3,871 10%
September 3,494 3,915 12%
October 3,854 4,284 11%
November 3,931 4,228 8%
December 3,760 4,178 11%
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