GST revenue for July 2022 at ₹1,48,995 crore, second-highest ever: Finance ministry

The corresponding figures for the same period last year stood at ₹1,16,393 crore, 28% lower, the ministry noted.

Published on: Aug 1, 2022, 12:47:51 IST

By HT News Desk, New Delhi

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The Goods and Services Tax (GST) revenue for July 2022 was recorded at ₹1,48,995 crore, the second-highest since the new indirect tax regime was introduced in July 2017, the Union finance ministry said on Monday.

“GST Revenue collection for July 2022 second highest ever at ₹1,48,995 crore. For five months in a row now, the monthly GST revenues more than ₹1.4 lakh core, showing a steady increase every month,” the ministry informed on its Twitter handle.

The Nirmala Sitharaman-headed ministry further stated that GST revenue for July 2022 was 28% higher than the corresponding numbers for the same period last year ( ₹1,16,393 crore).

The previous second-highest figure was recorded in 2022 as well, in June, when the GST revenue for the month stood at ₹1,44,616 crore. In April this year, the collection was ₹1,67,540 crore, the highest-ever mark.

Meanwhile, providing further details, the ministry said that during the current month, revenue from import of goods was 48% higher and that from domestic transactions (including import of services) was 22% higher than the revenue from the respective sources in July 2021.

The finance ministry attributed the steady growth in collection to various measures taken by the GST Council in the past to ensure better compliance.

“Better reporting coupled with economic recovery has been having positive impact on the GST revenues on a consistent basis. During the month of June 2022, 7.45 crore e-way bills were generated, which was marginally higher than 7.36 crore in May 202,” it said.

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