According to the latest information shared by the Ministry of Finance, the GST revenue collection for April 2023 stands at the highest-ever, which is Rs 1.87 lakh crore, which is great news for the Indian economy. Meanwhile, Prime Minister Narendra Modi has also lauded the economy and replying to the tweet shared by the Ministry of Finance, he wrote, “Great news for the Indian economy! Rising tax collection despite lower tax rates shows the success of how GST has increased integration and compliance.”Great news for the Indian economy! Rising tax collection despite lower tax rates shows the success of how GST has increased integration and compliance. https://t.co/xf1nfN9hrG— Narendra Modi (@narendramodi) May 1, 2023The overall GST collection reached an all-time high in April 2023 of Rs 1,87,035 crore, which is Rs 19,495 crore more than the collection in April 2022, which came in second place with Rs 1,67,540 crore.GST receipts for April 2023 are 13 percent more than GST receipts for the same month last year. On April 20, 2023, 9. 8 lakh transactions totalled Rs 68,228 crore, the greatest amount of tax ever collected in a single day.According to the numbers shared by the officials, the government has settled Rs 45,864 crore to CGST and Rs 37,959 crore to SGST from IGST. After the regular settlement in April 2023, the Centre and the States will have earned a combined total of Rs 84,304 crore for the CGST and Rs 85,371 crore for the SGST.According to the Ministry of Finance, the amount of money collected in April 2023 was 12 percent greater than it was in the same month last year for GST.The months domestic transaction revenues (including those from the import of services) were 16 percent higher than they had been in the same month last year. Gross GST receipts have surpassed Rs 1.75 lakh crore for the first time. The total number of electronic waybills (e-way bill) produced in total in March 2023 was 9.0 crore, an increase of 11 percent above the 8.1 crore electronic waybills produced in February 2023.GST cess on luxury goods, cigarettes, and alcoholic beverages brought in Rs 12,025 crore, which will be used to pay back the states financial assistance during the epidemic instead of their GST compensation.According to M. S. Mani, partner at Deloitte India, “The record GST collection relates to the transactions during March, the final month of FY23, where all organisations would have been keen to close the fiscal year on a high note.” The majority of big states, he continued, showed growth of 20 percent or more over the same period the previous year, pointing to widespread expansion across all states and sectors.Between states, Maharashtra, Karnataka, and Uttar Pradesh saw annual growth in GST revenue of over 20 percent in April, while Punjab and Tamil Nadu saw growth of 16 percent and 19 percent, respectively. Delhi reported an annual rise of 8 percent.What is an e-Way bille-Way Bill is an electronic waybill that is generated on the e-Way Bill portal for the movement of goods. A GST registered person is not permitted to move goods in a vehicle with a value greater than Rs. 50,000 (Single Invoice/bill/Delivery Challan) without an e-way bill generated on ewaybillgst.gov.in.As an alternative, e-Way bills can be created or cancelled through SMS, an Android app, or site-to-site connection using an API and the relevant GSTINs for the parties involved. Use the GST search tool to validate the GSTIN before using it.Whenever any supplier, recipient, and the transporter generate a-Way bill, a unique number (EBN) is allocated.How to generate SMS e-Way bill on mobileBy using a registered mobile phone, you can produce e-way bills via SMS. Enabling the SMS e-way bill generator is the first step in the process. Register the mobile phone that will be used to generate e-way bills via SMS. After then, you can create, manage, and cancel e-way bills by sending short SMS codes to a specific mobile phone number that is under the control of the e-way bill portal/GSTN.
