GST mop-up rises 28% to Rs1.49trn in July
2nd highest ever after record high of Rs1.68 lakh cr in April 2022; GST revenue may surpass target of Rs12.5 lakh cr
image for illustrative purpose
Indirect Tax Revenue
- GST collection above Rs1.4trn for 6th time since the inception in July 2017
- And 5th month at a stretch since March 2022
- In June, 7.45 crore e-Way bills were generated, higher than 7.36 cr in May
- GST data indicates economic recovery
New Delhi: GST collection rose 28 per cent to touch the second-highest level of Rs1.49 lakh crore in July on the back of economic recovery and steps taken to curb tax evasion, the government said on Monday. Goods and Services Tax (GST) collection stood at Rs1,16,393 crore in the same month a year ago.
GST, introduced in July 2017, touched a record high of Rs 1.68 lakh crore in April, 2022. This is the sixth time that the monthly GST collection crossed the Rs 1.40-lakh-crore mark since the inception of GST and fifth month at a stretch since March 2022, the ministry said in a statement. During July, revenues from import of goods were 48 per cent higher and the revenues from domestic transactions (including import of services) were 22 per cent higher than the revenues from these sources during the same month last year.
Of the Rs 1,48,995 crore GST collected in July, Central GST is Rs 25,751 crore, State GST is Rs 32,807 crore, Integrated GST is Rs 79,518 crore (including Rs 41,420 crore collected on import of goods) and Cess is Rs 10,920 crore (including Rs 995 crore collected on import of goods).
