Business
GST Collection In August Rises 28 Per Cent To Over Rs 1.43 Lakh Crore
GST collection
The gross GST revenue collected in the month of August 2022 is Rs 1,43,612 crore of which CGST is Rs 24,710 crore and SGST is Rs 30,951 crore, according to an official release.
The total Integrated GST (IGST) revenue collected for the month was Rs 77,782 crore (including Rs 42,067 crore collected on import of goods) and the cess is Rs 10,168 crore (including Rs 1,018 crore collected on import of goods), a Finance Ministry release said.
According to the ministry, the government has settled Rs 29,524 crore to CGST and Rs 25,119 crore to SGST from IGST.
The total revenue of Centre and the states in the month of August 2022 after regular settlement is Rs 54,234 crore for CGST and Rs 56,070 crore for the SGST, the ministry said.
The revenues for the month of August 2022 are 28 per cent higher than the GST revenues in the same month last year of Rs 1,12,020 crore, the ministry said.
During the month, revenues from import of goods was 57 per cent higher and the revenues from domestic transaction (including import of services) are 19 per cent higher than the revenues from these sources during the same month last year.
For six months in a row now, the monthly GST revenues have been more than the Rs 1.4 lakh crore mark.
The growth in GST revenue till August 2022 over the same period last year is 33 per cent, continuing to display very high buoyancy, the ministry said.
According to the ministry, better reporting coupled with economic recovery has been having positive impact on the GST revenues on a consistent basis.
During the month of July 2022, 7.6 crore e-way bills were generated, which was marginally higher than 7.4 crore in June 2022 and 19 per cent higher than 6.4 crore in June 2021, the ministry said.
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