New Delhi: Data released by the Union Finance Ministry revealed that the Goods and Services Tax (GST) collections in June this year gained by 56% year-on-year. The GST revenue in last month stood at Rs 1.45 lakh crore rupees. The GST collections in June 2021 was at 92,800 crore rupees. This is also the second highest GST collection after April this year. In April 2022, the GST revenue was at Rs 1.68 lakh crore.
Of the total GST collection, Central GST is Rs 25,306 crore, State GST is Rs 32,406 crore, Integrated GST is Rs 75,887 crore (including Rs 40,102 crore collected on import of goods) and cess is Rs 11,018 crore (including Rs 1,197 crore collected on import of goods).
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As per the data, monthly GST revenue crossed Rs 1.40 lakh crore for the fifth time since the inception of GST. And this is for the fourth time in a row Since March 2022. The average monthly gross GST collection for the first quarter of the current fiscal has been 1.51 lakh crore rupees. It was Rs 1.10 lakh crore in the first quarter of the last financial year. This is an increase by 37%.
The Union Finance Ministry said that the economic recovery and anti-evasion activities launched by the Union government has led to the surge in the GST revenue.
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