GST revenues rise 11% to Rs 1.65L cr in July

New Delhi: GST collection rose 11 per cent to over Rs 1.65 lakh crore in July as a result of anti-evasion measures and higher consumer spending.

This is the fifth time since the rollout of the Goods and Services Tax (GST) regime that monthly collections have crossed the Rs 1.60 lakh crore mark — making it the new normal.

“Gross GST revenue collected in July is Rs 1,65,105 crore of which 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 finance ministry said in a statement.

Revenues for the month were 11 per cent higher than GST revenues in July 2022, when it was about Rs 1.49 lakh crore.

July 2023 is the second consecutive month when revenues from taxes paid on goods sold and services rendered showed an increase month-on-month. It was Rs 1.61 lakh crore and Rs 1.57 lakh crore in June and May, respectively. The record high collection of Rs 1.87 lakh crore was witnessed in April.

During July, revenues from domestic transactions (including import of services) were 15 per cent higher than revenues from these sources during the same month last year.