July GST collections recorded at Rs 1.49 trillion; check monthly trends, state-wise collections here

New Delhi: Goods and Services Tax collection for the month of July was recorded at Rs 148,995 crore, which is 28 percent higher as compared to the same month last year. This is the second highest revenue since the introduction of the GST in 2017. Of the total, CGST was Rs 25,751 crore, SGST was Rs 32,807 crore, IGST was Rs 79,518 crore (including Rs 41,420 crore collected on import of goods) and cess was Rs 10,920 crore (including Rs 995 crore collected on import of goods), the Ministry of Finance said in a statement. The government has settled Rs 32,365 crore to CGST and Rs 26,774 crore to SGST from IGST. The total revenue of Centre and the States in July 2022 after regular settlement is Rs 58,116 crore for CGST and Rs 59,581 crore for the SGST. The revenues for July 2022 are 28 percent higher than the GST revenues in the same month last year of ₹ 1,16,393 crore. During the month, revenues from import of goods was 48 percent higher and the revenues from domestic transaction (including import of services) are 22 percent higher than the revenues from these sources during the same month last year. For five months in a row now, the monthly GST revenues have been more than ₹ 1.4 lakh core, showing a steady increase every month. The growth in GST revenue till July 2022 over the same period last year is 35% and displays a very high buoyancy. This is a clear impact of various measures taken by the Council in the past to ensure better compliance. Better reporting coupled with economic recovery has been having positive impact on the GST revenues on a consistent basis. During the month of June 2022, 7.45 crore e-way bills were generated, which was marginally higher than 7.36 crore in May 2022. The chart below shows trends in monthly gross GST revenues during the current year. 

State-wise figures of GST collected in each state in July 2022 as compared to July 2021.

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