GST collection grows 12% to over ₹1.61 lakh crore in June: Ministry of Finance

India’s Goods and Services Tax (GST) collection crossed ₹1.60 lakh crore mark in June, the finance ministry said in a statement on Saturday.

According to the finance ministry, it is for the fourth time since inception of GST that the gross collection has crossed the ₹1.6 lakh crore mark. The collection has breached the ₹1.50 lakh crore for the seventh time since inception.

The government said out of gross GST revenue of ₹1,61,497 crore, ₹31,013 crore is Central Goods and Services Tax (CGST). On the other hand, state goods and services tax (SGST) is ₹38,292 crore while the integrated goods and services tax (IGST) is ₹80,292 crore. The ministry said cess is ₹11,900 crore.

“The total revenue of Centre and the States in the month of June 2023 after regular settlement is ₹67,237 crore for CGST and ₹68,561 crore for the SGST”, the ministry stated.

“The revenues for the month of June 2023 are 12% higher than the GST revenues in the same month last year. During the month, the revenues from domestic transactions (including import of services) are 18% higher than the revenues from these sources during the same month last year”, the government added.