CURRENT AFFAIRS

Detailed explanation-1: -The October GST revenue is 24 per cent higher than of October last year and 36 per cent higher than October 2019-20. GST revenue collection for the month of October stood at Rs 1,30,127 crore, which is the second highest collection since implementation of the tax scheme.

Detailed explanation-2: -GST collections for the month of October stood at Rs 1.52 lakh crore, according to the data shared by finance ministry on Tuesday. This is the second highest collection since implementation of GST. Goods and Services Tax (GST) collection had touched a record high of nearly Rs 1.68 lakh crore in April.

Detailed explanation-3: -The gross GST revenue collected during December 2022 is Rs 1,49,507 crore, of which CGST is Rs 26,711 crore, SGST is Rs 33,357 crore, IGST is Rs 78,434 crore (including Rs 40,263 crore collected on import of goods) and Cess is Rs 11,005 crore (including Rs 850 crore collected on import of goods).

Detailed explanation-4: -The GST revenues for November 2022 are 11% higher than the GST revenues in the same period during the previous year. The GST collection November 2021 were reported as Rs. 1.31,526 crore.

Detailed explanation-5: -GST Collection for December 2022 State-wise Just like in November 2022, Maharashtra posted the highest GST collection for December 2022 in absolute terms at Rs. 23,598 crore.