New Delhi, Aug 1: Gross Goods and Services Tax (GST) collection in July reached over Rs 1.65 lakh crore, recording an 11% increase and surpassing the Rs 1.6 lakh crore mark for the fifth time since the implementation of the indirect tax regime.
The GST revenue collected in July comprised Rs 29,773 crore CGST, Rs 37,623 crore SGST, Rs 85,930 crore IGST (including Rs 41,239 crore from import of goods), and Rs 11,779 crore as cess (including Rs 840 crore from import of goods), according to the finance ministry’s statement.
The revenue for the month witnessed an 11% surge compared to the GST collection in the same month last year. Notably, revenues from domestic transactions (including import of services) were 15% higher than those in the corresponding period last year.
The finance ministry highlighted that it is the fifth instance when gross GST collection has crossed the Rs 1.60 lakh crore milestone. In June, the GST collection had amounted to Rs 1,61,497 crore.
