GST collections rise by 56% to Rs 1.44 lakh crore in June; fifth time crosses Rs 1.40-lakh-crore mark

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

Press Trust of India July 01, 2022 16:36:28 IST
GST collections rise by 56% to Rs 1.44 lakh crore in June; fifth time crosses Rs 1.40-lakh-crore mark

Representational image. PTI

New Delhi: GST collections in June witnessed a 56 per cent 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 inception of GST and fourth month at a stretch since March 2022, the ministry said in a statement.

During June, revenues from import of goods were 55 per cent higher and the revenues from domestic transactions (including import of services) were 56 per cent 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 per cent 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.

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