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GST Collection In July Increased Marginally

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Goods and Service Taxes (GST) collected by the states and central governments in July increased to Rs 1.02 lakh crore, marginally higher from the previous month, and 5.8 percent more than the Rs 96,483 crore collected in the same month last year.

This is the third month in the current fiscal year that the collection has surpassed the Rs 1 lakh crore margin. In June, the GST revenue collection was below Rs 1 lakh crore at Rs 99,939 crore.

GST Collection In July Increased Marginally
 

Official data released on Friday showed that central GST collections stood at Rs 17,912 crore, state GST at Rs 25,008 crore, and Integrated GST was at Rs 50,612 crore (including Rs 24,246 crore collected on imports) in July 2019.

It also said that cess collection was Rs 8,551 crore (including Rs 797 crore collected on imports).

As per the statement, Rs 17,789 crore has been released to the states as GST compensation for April-May, 2019.

Gross GST collections for the April-July period stood at Rs 4,16,176 crore, up from Rs 3,89,568 crore in the corresponding period of the last fiscal.

GST was introduced in 2017 and has absorbed most of the indirect taxes.

Read more about: gst
Story first published: Friday, August 2, 2019, 10:51 [IST]
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