India Gst Assortment: July GST income at ₹1.48 lk cr; up 28% YoY and second-highest since rollout
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June GST collections had risen 56% YoY to Rs 1.44 lakh cr
“Throughout the month, revenues from import of products was 48% greater and the revenues from home transaction (together with import of providers) are 22% greater than the revenues from these sources throughout the identical month final 12 months,” the ministry mentioned.
CGST collected in July stands at Rs 25,751 crore, SGST is Rs 32,807 crore whereas IGST is Rs 79,518 crore (together with Rs 41,420 crore collected on import of products). Cess collected is Rs 10,920 crore (together with Rs 995 crore collected on import of products).
Month-to-month GST revenues have been greater than Rs 1.4 lakh crore for 5 straight months. The expansion in GST income until July 2022 over the identical interval final 12 months is 35%.
“Higher reporting coupled with financial restoration has been having constructive influence on the GST revenues on a constant foundation. Throughout the month of June 2022, 7.45 crore e-way payments have been generated, which was marginally greater than 7.36 crore in Could 2022,” the ministry added.
A nationwide Items and Providers Tax (GST), which subsumed 17 native levies like excise obligation, service tax and VAT and 13 cesses, was rolled out on July 1, 2017.
