US$ 20.07 billion (Rs. 165,105 crore) gross GST revenue has been collected for July 2023, recording an 11% year-on-year growth
- Press Information Bureau
- August 2, 2023
The total goods and services tax (GST) revenue collected in July 2023 was US$ 20.07 billion (Rs. 165,105 crore), of which Central GST (CGST) was US$ 3.61 billion (Rs. 29,773 crore), States GST (SGST) was US$ 4.57 billion (Rs. 37,623 crore), Integrated GST IGST was US$ 10.44 billion (Rs. 85,930 crore) (including US$ 5.01 billion (Rs. 41,239 crore) collected on goods imported), and cess was US$ 1.43 billion (Rs. 11,779 crore (including US$ 102 million (Rs. 840 crore) collected on goods imported).
The government has paid US$ 4.03 billion (Rs. 33,188 crore) in SGST and US$ 4.83 billion (Rs. 39,785 crore) in CGST as settlements from IGST. After regular settlement, the combined revenue for the month of July 2023 for the CGST and the SGST is US$ 8.45 billion (Rs. 69,558 crore) and US$ 8.60 billion (Rs. 70,811 crore), respectively.
The revenue for July 2023 is 11% more than the GST revenue for the same month in the previous year. In comparison to the same month last year, the revenue from domestic transactions (including the import of services) is 15% higher this month. The total GST revenue has now exceeded US$ 19 billion (Rs. 1.60 lakh crore) for the fifth time.
The highest GST revenue collection for July 2023 was in Maharashtra of US$ 3.16 billion (Rs. 26,064 crore), registering a 18% growth from the same time last year. This was followed by Karnataka US$ 1.39 billion (Rs. 11,505 crore) with a 17% growth.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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