In the month of July, the government earned Rs 1,48,995 crore from the Goods and Services Tax (GST). This is the second highest figure for the government’s income through Goods and Services Tax since the implementation of GST. The Finance Ministry released the data on Monday and said that in the month of July this year, the government’s GST collection saw an increase of 28 percent on an annual basis.
In June, the GST collection stood at Rs 1.44 crore, up 56 per cent year-on-year.
The ministry said, The revenue collection from import of goods has shown a growth of 48 per cent during the month. While the revenue from domestic transactions (import of services) has shown a growth of 22 per cent as compared to the previous year.
The government has said that CGST collection in July stood at Rs 25,751 crore, SGST collection at Rs 32,807 crore while IGST collection stood at Rs 79,518 crore (including earnings of Rs 41,420 crore from import of goods). At the same time, the figure of cess collection stood at Rs 10,920 crore (including income of Rs 995 crore from import of goods).
If we look at the data of GST collection for the month of July, then it can be said that the monthly GST collection was more than Rs 1.4 lakh.