GST collection rises 28% to Rs 1.43 lakh crore, festive season to drive mop-up

01 September 2022admin

The GST collection remained above the Rs 1.4-lakh-crore mark for the sixth straight month in August and the ensuing festival season will help continue the trend.

India's tax collection from the sale of goods and services soared 28 per cent to Rs 1.43 lakh crore in July aided by rising demand, higher rates, and greater compliance. The GST collection remained above the Rs 1.4-lakh-crore mark for the sixth straight month in August and the ensuing festival season will help continue the trend.

Better reporting coupled with economic recovery has have a "positive impact on the GST revenues on a consistent basis", the finance ministry said in a statement.

The gross GST revenue collected in August 2022 is Rs 1,43,612 crore of which CGST is Rs 24,710 crore, SGST is Rs 30,951 crore, IGST is Rs 77,782 crore (including Rs 42,067 crore collected on import of goods) and cess is Rs 10,168 crore (including Rs 1,018 crore collected on import of goods), the ministry said.

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