Centre Collects Rs 1,48,995 Cr GST Revenue

The ministry said that out of Rs 1,48,995, the central GST is Rs 25,751 crore, state GST is Rs 32,807 crore and integrated GST is Rs 79,518 crore

The Ministry of Finance on Monday said that it has collected a gross goods and services tax (GST) revenue of Rs 1,48,995 crore in July 2022 which is the second highest revenue since the introduction of GST.

The ministry said that out of Rs 1,48,995, the central GST is Rs 25,751 crore, state GST is Rs 32,807 crore and integrated GST is Rs 79,518 crore. 

The integrated GST includes Rs 41,420 crore collected on import of goods) and cess is Rs 10,920 crore (including Rs 995 crore collected on import of goods), it said. 

The government has settled Rs 32,365 crore to CGST and Rs 26,774 crore to SGST from IGST. The total revenue of the centre and the States in the month of July 2022 after the regular settlement is Rs 58,116 crore for CGST and Rs 59,581 crore for the SGST.

“The revenues for the month of July 2022 are 28 per cent higher than the GST revenues in the same month last year of Rs 1,16,393 crore,” the ministry informed. 

During the month, revenues from import of goods were 48 per cent higher and the revenues from domestic transactions (including import of services) are 22 per cent higher than the revenues from these sources during the same month last year.

For five months in a row now, the monthly GST revenues have been more than Rs 1.4 lakh crore, showing a steady increase every month. 

The growth in GST revenue till July 2022 over the same period last year is 35 per cent and displays a very high buoyancy.