Gross GST receipts for June at Rs1.45 trillion

1 Jul 2022 , 02:54 PM

Gross Goods and Services Tax (GST) receipts increased by 56 percent from a year earlier to Rs 1.45 lakh crore, the second-highest monthly total. Since March, monthly GST receipts have been above the 1.40 lakh crore mark, reaching Rs 1.41 lakh crore in May.

At a celebration marking five years of the GST, Finance Minister Nirmala Sitharaman stated, “We are now proving that the GST collections remain over 1.40 lakh crores.” Following April, June saw the second-highest gross GST collection.

The government stated in a statement that June 2022’s collection “is not only the second-highest but also has broken the tendency of being a low collection month as noticed in the past.” “Anti-evasion efforts, particularly those taken against false billers, have contributed to the increased GST along with the economic recovery. Since the implementation of the GST, this month’s gross cess collection is the highest.

The total income for June was Rs 25,306 crore for CGST, Rs 32,406 crore for SGST, Rs 75,887 crore for IGST, and Rs 11,018 crore for the GST compensation cess.

The government paid CGST and SGST a total of Rs 29,588 crore and Rs 24,235 crore, respectively, from IGST. In addition, the Centre arbitrarily paid the States and Centre a total of Rs 27,000 crore in IGST in a 50:50 split. After regular and ad hoc settlement, the combined income for the Centre and the States in June was Rs 68,394 crore for CGST and Rs 70,141 crore for SGST.