• Notification Date: 02-09-2023
• Notification No: N/A

GST Collections in August grew by 11% YoY to Rs 1.6 Lakh crore

The Goods and Services Tax (GST) revenues for August 2023 have shown a growth of 11 percent year on year, Revenue secretary Sanjay Malhotra told news agency PTI on September 1. 

The collection from Goods and Services Tax (GST) was Rs 1,43,612 crore in August 2022. 

''Roughly numbers are in the range of 11 per cent year on year growth as in earlier months,'' Malhotra told reporters. 

An 11 percent growth roughly translates to around Rs 1.60 lakh crore. 

He was replying to a question on the expected GST revenue numbers for August, the data for which will be released later on Friday. 

Malhotra said GDP growth was 7.8 per cent in June quarter and nominally it has grown 8 per cent. 

''GST revenues during June quarter grew by more than 11 percent. This translates into a tax: GDP ratio of more than 1.3,'' Malhotra said.