The Goods and Services Tax collection in July rose to Rs 1,48,995 crore in July from Rs 1,44,616 crore last month, the Union finance ministry said on Monday.
The revenues collected in July were the second-highest monthly collection ever since the new tax regime was implemented in 2017. The highest monthly GST collection was recorded in April, when Rs 1,67,540 crore was collected.
The revenues in July were 28% higher than the collection made during the same month last year, the finance ministry said in a press release.
The ministry also pointed out that the monthly GST collections have now been above Rs 1.4 lakh crore for five consecutive months.
“This is a clear impact of various measures taken by the Council in the past to ensure better compliance,” a press release said. “Better reporting coupled with economic recovery has been having positive impact on the GST revenues on a consistent basis.”
👉 GST Revenue collection for July 2022 second highest ever at ₹1,48,995 crore
👉 For five months in a row now, the monthly GST revenues more than ₹1.4 lakh core, showing a steady increase every month
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— Ministry of Finance (@FinMinIndia) August 1, 2022
Of the total revenues collected in July, the central GST component amounted to Rs 25,751 crore and state GST…