The goods and services tax (GST) collection for the month of July was Rs 1,16,393 crore, data released by finance ministry showed on Sunday.
The government has settled Rs 28,087 crore to CGST and Rs 24,100 crore to SGST from IGST as regular settlement.
The total revenue of Centre and the states after regular settlement in the month of July 2021 was Rs 50,284 crore for CGST and Rs 52,641 crore for the SGST.
Comparing with June
During June, central GST collection stood at Rs 22,197 crore against Rs 16,424 crore in June. The state GST mop-up was Rs 28,541 crore in July, against Rs 20,397 crore in the previous month. But compensation cess was at Rs 7,790 crore; it was Rs 6,949 crore in June.
The government settled Rs 28,087 crore to CGST and Rs 24,100 crore to SGST from IGST as regular settlement.
The government also did a regular integrated GST settlement of Rs 50,284 crore to CGST and Rs 52,641 crore to SGST.
Year-on-year growth
The Centre collected ₹50,284 crore, and states collected ₹52,641 crore in July. Revenues for July are 33% higher than a year ago, the ministry said.
The latest numbers pertain to transactions done in June.
Revenue from Import
The revenue from the import of goods was 36 per cent higher and the revenue from domestic transactions (including import of services) was 32 per cent higher on a YoY basis.
Comment from Finance Minister
Nirmala Sitharaman, “GST collection, after posting above Rs 1 lakh crore mark for eight months in a row, dropped below Rs 1 lakh crore in June 2021 as the collections during the month of June 2021 predominantly related to the month of May 2021.”
Review by Deloitte
M S Mani, – Senior Director “The improvement in the GST collection, from both domestic transactions and imports, accompanied by the fact that major producing states have shown significant increases, indicates that economic activity has resumed across the country.”
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