Economy
India's GST Collection In July Rises By 11 Per Cent To Reach Rs 1.65 Lakh Crore
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India's Goods and Services Tax (GST) collection in July 2023 rose by 11 cent to over Rs 1.65 lakh crore.
"The gross GST revenue collected in the month of July, 2023 is Rs 1,65,105 crore of which CGST is Rs 29,773 crore, SGST is Rs 37,623 crore, IGST is Rs 85,930 crore (including Rs 41,239 crore collected on import of goods) and cess is Rs 11,779 crore (including Rs 840 crore collected on import of goods)," the Finance Ministry said in a statement on Tuesday (1 August).
The government has settled Rs 39,785 crore to CGST and Rs 33,188 crore to SGST from IGST.
"The total revenue of Centre and the States in the month of July 2023 after regular settlement is Rs 69,558 crore for CGST and Rs 70,811 crore for the SGST," the ministry said.
The revenues for the month of July 2023 are 11 per cent higher than the GST revenues in the same month last year, it added.
During the month, the revenues from domestic transactions (including import of services) were 15 per cent higher than the revenues from these sources during the same month last year.
"It is for the fifth time, the gross GST collection has crossed Rs 1.60 lakh crore mark," the ministry said.
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