July GST collection grows 11% YoY to Rs 1,65,105 crore
New Delhi: The gross GST revenue collected in July stood at Rs 1,65,105 crore, up 11% higher than the GST revenues in the same month last year, the Ministry of Finance said on Tuesday.
According to the ministry, of the GST collected, CGST stood at Rs 29,773 crore, SGST at Rs 37,623 crore, and IGST at Rs 85,930 crore.
The IGST includes Rs 41,239 crore collected on the import of goods and the cess, including Rs 840 crore collected on the import of goods, stands at Rs 11,779 crore.
The government has settled Rs 39,785 crore to CGST and Rs 33,188 crore to SGST from IGST.
The total revenue of the Centre and the states in the month of July 2023 after the regular settlement is Rs 69,558 crore for CGST and Rs 70,811 crore for 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 that the gross GST collection has crossed Rs. 1.60 lakh crore mark, the ministry said.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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