Centre Collects Rs 1,43,612 Cr GST Revenue In August 2022

The Ministry of Finance on Thursday said that it has collected a gross goods and services tax (GST) revenue of Rs 1,43,612 crore in August 2022 which is 28 per cent higher than the same month in 2021.

The ministry said that out of the total collection, central GST is Rs 24,710 crore, state GST is Rs 30,951 crore, integrated GST is Rs 77,782 crore and cess is Rs 10,168 crore. 

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 the states in August 2022 after the regular settlement is Rs 54,234 crore for CGST and Rs 56,070 crore for the SGST.

During the month, revenues from import of goods were 57 per cent higher and the revenues from domestic transactions (including import of services) are 19 per cent higher than the revenues from these sources during the same month last year, it said. 

For six months in a row now, the monthly GST revenues have been more than the Rs 1.4 lakh crore mark. 

The growth in GST revenue till August 2022 over the same period last year is 33 per cent, continuing to display very high buoyancy, according to the ministry. 

The ministry added, "This is a clear impact of various measures taken by the council in the past to ensure better compliance. Better reporting coupled with economic recovery has been having a positive impact on the GST revenues on a consistent basis." 

During the month of July 2022, 7.6 crore e-way bills were generated, which was marginally higher than 7.4 crore in June 2022 and 19 per cent higher than 6.4 crore in June 2021, it said.