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GST collection reaches Rs 1.02 lakh crore in July

The total GST collection in the month of July is recorded as Rs. 1.02 lakh crore which consists CGST is Rs. 17,912 crore, SGST is Rs. 25,008 crore, IGST is Rs. 50,612 crore (including Rs. 24,246 crores collected on imports) and Cess is Rs. 8,551 crore (including Rs. 797 crore collected on imports).

Moreover, the revenue in July 2019 has shown a year-on-year growth of 5.8% over the revenue of Rs 96,483 crore reported in July 2018.

However, in the month of June, revenue collection from Goods and Service tax was below Rs. 1 lakh crore i.e. it was Rs. 99,939 crore.

The number of GSTR 3B Returns (summary of self-assessed return) filed for the month of June up to end-July totalled 75.79 lakh. 

The gross GST collections during April-July was reported at Rs 4,16,176 crore, up from Rs 3,89,568 crore in the corresponding period of the last fiscal. 

Author: Niranjan Reddy

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