GST Collection Hits Nearly ₹1.49 Lakh Crore In July, Second-Highest Ever

Mumbai: The government on Monday said that ₹1,48,995 crore gross GST revenue was collected in July 2022, marking the second highest amount of revenue collected since the introduction of GST. The revenues for July are 28% higher than the GST revenues in the same month last year. The GST revenue in June 2022 was ₹1,44,616 crore.

In FY 2013 so far, gross GST collections have been above the 1.40 lakh crore mark – highest in April at ₹1.67 lakh crore, in May at ₹1.41 lakh crore, in June at ₹1.45 lakh crore and in July at ₹1.49 lakh crore. This is the sixth time since the implementation of GST that the monthly GST collection has crossed the Rs 1.40 lakh crore mark.

https://twitter.com/PIB_India/status/1553989460786036736?s=20&t=R4KSCrCvnURcsC61MGPuHQ

Finance ministry data shows that of the entire collection of ₹1.48 lakh crore in July, ₹25,751 crore is CGST (Central Goods and Services Tax), ₹32,807 crore is SGST (state goods and services tax), and ₹75,887 crores (including ₹ 79,518 crores was collected on import of goods) IGST (Integrated Goods and Services Tax) and Rs 995 crore was collected on import of goods.

“During the month, revenues from import of goods were 48% higher and the revenues from domestic transaction, including import of services, are 22% higher than the revenues from these sources during the same month last year,” says the finance ministry.

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