IGST declines in Apr, reflects softening prices, fall in import

EVEN AS GROSS Goods and Services Tax (GST) collection touched a record high of ₹1.87 trillion in April, the mop-up from integrated GST on imports declined by 4.7% on year in the month, owing to contraction in imports, falling global commodity prices and the glitches in the Customs duty payments on the Electronic Cash Ledger portal.

- SURABHI

According to official data, the integrated GST collection from imports was ₹34,972 crore in April 2023 as against ₹36,705 crore in April 2022. The cess collected from import of goods was slightly higher at ₹901 crore in April 2023 as against ₹857 crore a year ago. Integrated GST collections from imports in March and February 2023 was also higher at ₹42,503 crore and ₹35,689 crore, respectively.

"Possible reasons for this decline could be lower commodity prices in the international markets, and lower imports, as well as teething problems on the ECL portal, due to which some shipments may spill over to May," said Ajai Sahai, DG and CEO, Federation of Indian Export Organisations.