Sunday, August 7, 2022

GST collections up 56% to Rs 1.44 lakh crore in June

GST collections in June witnessed a 56 percent year-on-year increase to over Rs 1.44 lakh crore on economic recovery and better anti-evasion measures

Must read

New Delhi: GST collections in June witnessed a 56 percent year-on-year increase to over Rs 1.44 lakh crore on economic recovery and better anti-evasion measures, the finance ministry said on Friday.

Goods and Services Tax (GST) collections in June, 2021 stood at Rs 92,800 crore.

Speaking at the GST Day celebrations, Finance Minister Nirmala Sitharaman said Rs 1.4 lakh crore is the “rough bottom line” for monthly GST revenue collections.

This is the fifth time that the monthly GST collections crossed the Rs 1.40-lakh-crore mark since the inception of GST and the fourth month at a stretch since March 2022, the ministry said in a statement.

During June, revenues from import of goods were 55 percent higher and the revenues from domestic transactions (including import of services) were 56 percent higher than the revenues from these sources during the same month last year.

The total number of e-way bills generated in the month of May 2022 was 7.3 crore, which is 2 percent less than 7.4 crore e-way bills generated in the month of April 2022, the ministry added.

GST collections in May was Rs 1.41 lakh crore and in April hit a record high of Rs 1.68 lakh crore.

(PSU Watch– India’s Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)

- Advertisement -

More articles

- Advertisement -

Latest News