GST Revenue Collection Increases 13% to Rs 1.60 lakh crore in March 2023

Current Context: India’s GST revenue collection for March 2023 stood at 6 lakh crore rupees, which is 13% higher than the GST revenues in March 2022.

• It is for the fourth time, in the current financial year that the gross GST collection has crossed 1.5 lakh crore rupees, since the implementation of GST.
• Out of the total collection, CGST is 29,546 crore rupees, SGST is 37,314 crore rupees and IGST is 82,907 crore rupees, including ₹42,503 crores collected on import of goods.
• While cess contributed 10,355 crore rupees, including 960 crore rupees collected on the import of goods.
• The total gross collection for the year 2022-23 stands at 18.10 lakh crore rupees, while the average gross monthly collection for the full year is 1.51 lakh crore rupees.

Questions: 

Q.1 By what percentage did the GST revenue collection increase in March 2023 compared to March 2022? 

a) 13% 

b) 6% 

c) 7% 

d) 10%