GST collection jumps 28 percent in July

GST collection jumped 28 per cent to Rs 1.49 lakh crore in July, the Finance Ministry stated on Monday.

New Delhi:New Delhi: GST collections rose 28 per cent to Rs 1.49 lakh crore on an annual basis in July on the back of economic recovery and measures taken to curb tax evasion, the government said on Monday. In July, 2021, Goods and Services Tax (GST) collections stood at Rs 1,16,393 crore.

The collections in July this year is the second highest since the introduction of GST in July 2017, the ministry said in a statement. The collections hit a record high of Rs 1.68 lakh crore in April, 2022. During July, revenues from import of goods were 48 per cent higher and the revenues from domestic transactions (including import of services) were 22 per cent higher than the revenues from these sources during the same month last year. (PTI)