GST revenue collection crosses record Rs 1.65 lakh crore in July. Loktej Business News
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New Delhi, 01 August (HS). The Goods and Services Tax (GST) revenue collection has once again set a record. GST revenue collection has been more than Rs 1,65 lakh crore in July. GST collection has increased by 11 percent on an annual basis. In the previous month in June, the GST revenue collection was Rs 1.61 lakh crore.
In the data released on Tuesday, the Finance Ministry said that the GST revenue collection in July stood at Rs 1,65,105 crore. According to the ministry, an increase of 11 per cent has been recorded in GST collection on an annual basis. The GST revenue collection in June stood at Rs 1,61,497 crore. Gross GST collection has crossed Rs 1.60 lakh crore for the 5th time since the introduction of GST.
According to the ministry, the total GST revenue collection in the month of July has been Rs 1,65,105 crore. This includes Central GST Rs 29,773 crore, State GST Rs 37,623 crore, Integrated GST Rs 85,930 crore (including Rs 41,239 crore collected on import of goods). In addition the cess has been Rs 11,779 crore (including Rs 840 crore collected on import of goods). Revenue from domestic transactions (including import of services) has been up 15 per cent year-on-year during this period.
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