GST collections up 12 per cent, touch Rs 1.61 lakh crore in June

GST collections shot up 12 per cent to over Rs 1.61 lakh crore in June, the government announced on Saturday (July 1).

The gross GST collection crossed Rs 1.60 lakh crore mark for the fourth time since the rollout of the indirect tax regime six years ago on July 1, 2017.

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The average monthly gross GST collection for the first (April-June) quarter of the 2021-22, 2022-23 and 2023-24 were Rs 1.10 lakh crore, Rs 1.51 lakh crore and Rs 1.69 lakh crore respectively, a finance ministry statement said.

“The gross GST revenue collected in June 2023 is Rs 1,61,497 crore, of which Central GST is Rs 31,013 crore, State GST is Rs 38,292 crore, Integrated GST is Rs 80,292 crore (including Rs  39,035 crore collected on import of goods) and cess is Rs 11,900 crore (including Rs 1,028 crore collected on import of goods),” the statement said.

The revenues for June 2023 are 12 per cent higher than the GST revenues in the same month last year.

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Record revenue

During the month, the revenues from domestic transactions (including import of services) were 18 per cent more than the revenues from these sources during the same month last year.

The revenues touched a record high of Rs 1.87 lakh crore in April. In May, it was Rs 1.57 lakh crore.

(With agency inputs)