GST collection jumps to ₹1.43 lakh cr in Aug

GST collection Aug

New Delhi: The gross Goods and Services Tax (GST) revenue collected in August this year grew 28% year on year basis. According to data released today, August GST collections came in at ₹1,43,612 crore of which CGST is ₹24,710 crore, SGST is ₹30,951 crore, IGST is ₹77,782 crore (including ₹42,067 crore collected on import of goods) and cess is ₹10,168 crore (including ₹1,018 crore collected on import of goods).

The revenues for the month of August 2022 are 28% higher than the GST revenues in the same month last year of ₹1,12,020 crore.

During the month, revenues from import of goods was 57% higher and the revenues from domestic transaction (including import of services) are 19% higher than the revenues from these sources during the same month last year.

For six months in a row now, the monthly GST revenues have been more than the ₹1.4 lakh crore mark. The growth in GST revenue till August 2022 over the same period last year is 33%, continuing to display very high buoyancy. This is a clear impact of various measures taken by the Council in the past to ensure better compliance. Better reporting coupled with economic recovery has been having positive impact on the GST revenues on a consistent basis.

Also Read: GST collection rises to ₹1.49 Cr in July, 28% up from last year

During the month of July 2022, 7.6 crore e-way bills were generated, which was marginally higher than 7.4 crore in June 2022 and 19% higher than 6.4 crore in July 2021.

The chart below shows trends in monthly gross GST revenues during the current year. The table shows the state-wise figures of GST collected in each State during the month of August 2022 as compared to August 2021.

GST Collection Aug

  • Monthly GST revenues more than the ₹ 1.4 lakh crore for six months in a row
  • The gross GST revenue collected in the month of August 2022 is ₹1,43,612 cr
  •  Of total collection, ₹24,710 cr is CGST, ₹30,951 cr SGST & ₹77,782cr IGST
  • ₹42,067 crore collected on import of goods
  • Cess collection is ₹10,168 cr (including ₹ 1,018 crore collected on import of goods)
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