July GST collection comes at Rs 1.65 trillion, rises 11% YoY

The goods and services tax (GST) collection for the month of July came at Rs 1.65 trillion. This is up 11 per cent year-on-year.

Of the Rs 1,65,105 crore, the Central GST is Rs 29,773 crore, State GST is Rs 37,623 crore, Integrated GST is Rs 85,930 crore (including Rs 41,239 crore collected on import of goods) and cess is Rs 11,779 crore (including Rs 840 crore collected on import of goods).

The government has settled Rs 39,785 crore to CGST and Rs 33,188 crore to SGST from IGST. The total revenue of Centre and the states in the month of July 2023 after regular settlement is Rs 69,558 crore for CGST and Rs 70,811 crore for the SGST.

The revenues for the month of July 2023 are 11 per cent higher than the GST revenues in the same month last year. During the month, the revenues from domestic transactions (including import of services) are 15 per cent higher than the revenues from these sources during the same month last year. It is for the fifth time, the gross GST collection has crossed Rs 1.60 trillion mark.