New Delhi: India’s gross collection of Goods and Service Tax (GST) rose to Rs. 1.65 lakh crore in July 2023 from Rs.1.61 lakh crore in the previous month. The July collections are 11% higher than the GST revenues in the same month last year.
Out of Rs.1,65,105 crore collected in July, CGST is Rs.29,773 crore, SGST is Rs.37,623 crore, IGST is Rs.85,930 crore (including Rs.41,239 crore collected on import of goods) and cess is Rs.11,779 crore (including Rs. 840 crore collected on import of goods).
The government has settled Rs.39,785 crore to CGST and Rs.33,188 crore to SGST from IGST. The total revenue of Centre and the States in the month of July 2023 after regular settlement is Rs.69,558 crore for CGST and Rs.70,811 crore for the SGST.
During the month, the revenues from domestic transactions (including import of services) are 15% higher than the revenues from these sources during the same month last year. It is for the fifth time, the gross GST collection has crossed Rs. 1.60 lakh crore mark.
