For the first time, the gross collection of GST has crossed ₹1.75 lakh crore mark (1.75tn rupees, £17bn), to reach ₹1,87,035 crore. This is ₹19,495 above the April 2022 figure of ₹1,67,540.
The total number of e-waybills (electronic bills) generated in the month of March 2023 was 9.0 crore [1 crore = 10 million], which is 11 per cent higher than 8.1 crore e-way bills generated in February 2023.
GST is of three types i.e. CGST or Central Goods and Services Tax, SGST or State Goods and Services Tax and IGST or Integrated Goods and Services Tax.
Of the latest figure, CGST is ₹38,440 crore. CGST is levied by the central government for intrastate movement of goods and services. SGST stood at ₹47,412 crore. SGST means intrastate supplies of goods and services by the state government where the product sold is consumed and is taxable. IGST is ₹89,158 crore (including ₹34,972 crore collected on import of goods). IGST is for interstate purchases or supplies of...