New Delhi: The Goods and Services Tax (GST) revenue has crossed Rs 1.43 lakh crore in August this year. This is for the sixth month in a row that the GST collection is crossing Rs 1.40 lakh crore. It was higher by 28% than the GST collection of Rs 1.12 lakh crore in August 2021. In July this year, the GST revenue was at Rs 1.49 lakh crore.
Of the total revenue, the CGST is Rs 24,710 crore, SGST is Rs 30,951 crore, IGST is Rs 77,782 crore (including Rs 42,067 crore collected on import of goods) and cess is Rs 10,168 crore (including Rs 1018 crore collected on import of goods). CGST refers to Central Goods and Services Tax, SGST (State Goods and Services Tax) and IGST (Integrated Goods and Services Tax).
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The government has settled Rs 29,524 crore to CGST and Rs 25,119 crore to SGST from IGST. The total revenue of the Centre and states in August after the regular settlement is Rs 54,234 crore for CGST and Rs 56,070 crore for the SGST.
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