GST Collection Raises To 1.65 Lakh Crore In July 2023

According to data issued by the finance ministry on Tuesday, the gross Goods and Services Tax (GST) revenue collected in July 2023 was Rs 1,65,105 crore, a marginal increase in July revenues.

The gross GST collection surpassed Rs 1.60 lakh crore for the fifth time since the regime’s implementation. GST receipts reached an all-time high of Rs 1.87 lakh crore in April 2023.

The central GST was Rs 29,773 crore, the state GST was Rs 37,623 crore, and the integrated GST was Rs 85,930 crore (including Rs 41,239 crore collected on import of goods). The cess was Rs 11,779 crore (including Rs 840 crore in import duties).

After normal settlement, the total revenue of the Centre and the States in July 2023 was Rs 69,558 crore for CGST and Rs 70,811 crore for SGST.

Notably, GST receipts for July 2023 are 11% more than GST revenues for the same month last year.

Domestic transaction revenues (including service imports) were 15% higher during the month than during the same month last year.

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