GST collection in August was 1.43 lakh crore, 28% YoY increase

Published on Sep 01, 2022 12:20 PM IST

The finance ministry said that for the sixth consecutive month, the monthly GST revenue has been more than ₹1.40 lakh crore.

GST collection rose by 28 per cent to <span class='webrupee'>₹</span>1.43 lakh crore in August, the finance ministry said.
GST collection rose by 28 per cent to 1.43 lakh crore in August, the finance ministry said.
By | Edited by Aryan Prakash

India collected goods and services tax (GST) worth 1,43,612 crore in August this year, the finance ministry said. The revenue collected in August was 28 per cent higher than the one collected in the same month last year.

The finance ministry said that for the sixth consecutive month, the monthly GST revenue has been more than 1.40 lakh crore. Out of the overall 1.43 lakh crore, the central goods and services tax (CGST) was worth 24,710 crore while the state goods and services tax (SGST) was 30,951 crore. The integrated goods and services tax (IGST) stood at 77,782 crore which includes 42,067 crore collected on the import of goods, the finance ministry said in a statement.

ALSO READ- Myths being spread on GST: FM in Parliament

The cess stood at 10,168 crore including 1,018 crore collected on the import of goods.

“The government has settled 29,524 crore to CGST and 25,119 crore to SGST from IGST. The total revenue of Centre and the States in the month of August 2022 after regular settlement is 54,234 crore for CGST and 56,070 crore for the SGST,” the finance ministry stated.

The finance ministry said that the growth in GST revenue till August 2022 over the same period last year is 33 per cent continuing to display very high buoyancy.

“During the month of July 2022, 7.6 crore e-way bills were generated, which was marginally higher than 7.4 crore in June 2022 and 19% higher than 6.4 crore in June 2021,” the government added.

India's GDP in the first quarter of the fiscal year surged by 13.5 per cent as against a 20.1 per cent growth seen during the same period in 2021, a data released by the National Statistical Office stated.

SHARE THIS ARTICLE ON
  • ABOUT THE AUTHOR

    Follow the latest breaking news and developments from India and around the world with Hindustan Times' newsdesk. From politics and policies to the economy and the environment, from local issues to national events and global affairs, we've got you covered.

SHARE
Story Saved
×
Saved Articles
Following
My Reads
My Offers
Sign out
New Delhi 0C
Wednesday, November 30, 2022
Start 15 Days Free Trial Subscribe Now
Register Free and get Exciting Deals