NEW DELHI: The collection of Goods and Services Tax (GST) rose 11 per cent to over Rs 1.65 lakh crore in July as a result of anti-evasion measures and higher consumer spending, said the government.
This is the fifth time since the rollout of the GST regime that monthly collections have crossed the Rs 1.60 lakh crore mark, making it the new normal.
“The gross GST revenue collected in July is Rs 1,65,105 crore, of which CGST is Rs 29,773 crore, SGST Rs 37,623 crore, IGST 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),” said an official news release.
Revenues for the month were 11 per cent higher than the GST revenues in July 2022, when it was about Rs 1.49 lakh crore.
July 2023 is the second consecutive month when revenues from taxes paid on goods sold and services rendered showed an increase month-on-month. It was Rs 1.61 lakh crore and Rs 1.57 lakh crore in June and May, respectively.
The record high collection of Rs 1.87 lakh crore was witnessed in April.
During July, 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.
In June, the gross GST revenue had increased by 2.80 per cent to Rs 1.61 lakh crore as compared to Rs 1.57 lakh crore in May. The June intake recorded a 12 per cent year-on-year growth and crossed the Rs 1.6 lakh-crore mark for the fourth time since inception of the GST. It crossed Rs 1.4 lakh crore for 16 months in a row and Rs. 1.5 lakh for the seventh time since inception.