• Notification Date: 05-07-2023
  • Notification No: N/A

GST Collection hikes by 12% to over ₹1.61 lakh crore in June

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 â‚¹1.6 lakh crore mark. The collection has breached the â‚¹1.50 lakh crore for the seventh time since inception. 

The government said out of gross GST revenue of â‚¹1,61,497 crore, â‚¹31,013 crore is Central Goods and Services Tax (CGST). On the other hand, state goods and services tax (SGST) is â‚¹38,292 crore while the integrated goods and services tax (IGST) is â‚¹80,292 crore. The ministry said cess is â‚¹11,900 crore. 

“The total revenue of Centre and the States in the month of June 2023 after regular settlement is â‚¹67,237 crore for CGST and â‚¹68,561 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.