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GST collection grows by 28 per cent in Aug, amount exceeds by THIS much

The Finance Ministry on Thursday said that the Goods and Services Tax (GST) collection grew 28 per cent to Rs 1.43 lakh crore in August.

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New Delhi: The Finance Ministry on Thursday said that the Goods and Services Tax (GST) collection grew 28 per cent to Rs 1.43 lakh crore in August. For the sixth consecutive month in August, the GST collection has exceeded Rs 1.4 lakh crore. The GST collection for August stood at ₹ 1,43,612 crore, of which CGST is ₹ 24,710 crore, SGST ₹ 30,951 crore, IGST ₹ 77,782 crore.

Revenue growth in August

The revenue for the month of August 2022 is 28% higher than the GST revenue of ₹1,12,020 crore in the corresponding month of the previous year. At the same time, monthly GST revenue for six consecutive months has been more than Rs 1.4 lakh crore. The GST revenue till August 2022 has increased by 33% over the corresponding period of the previous year, which shows a huge jump.

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Data released by NSO

“During July 2022, 7.6 crore e-way bills were generated, which was slightly higher than 7.4 crore in June 2022 and 19% higher than 6.4 crore in June 2021,” the government said.

The data released by the National Statistical Office said that India’s GDP grew by 13.5 per cent in the first quarter of the fiscal, as compared to the 20.1 per cent growth seen during the same period in 2021.

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