India

GST Mop-Up Rises 12% To Over Rs 1.61 Lakh Cr In June

The gross GST collection has crossed Rs 1.60 lakh crore mark for the fourth time since the roll-out of the indirect tax regime six years ago on July 1, 2017.
The average monthly gross GST collection for the first (April-June) quarter of the 2021-22, 2022-23 and 2023-24 are Rs 1.10 lakh crore, Rs 1.51 lakh crore and Rs 1.69 lakh crore, respectively, the finance ministry said in a statement.
“The gross GST revenue collected in the month of June 2023 is Rs 1,61,497 crore of which Central GST is Rs 31,013 crore, State GST is Rs 38,292 crore, Integrated GST is Rs 80,292 crore (including Rs 39,035 crore collected on import of goods) and cess is Rs 11,900 crore (including Rs 1,028 crore collected on import of goods),” the statement said.

The revenues for June 2023 are 12 per cent higher than the GST revenues in the same month last year. During the month, the revenues from domestic transactions (including import of services) are 18 per cent higher than the revenues from these sources during the same month last year.

The revenues had touched a record high of Rs 1.87 lakh crore in April. In May, it was Rs 1.57 lakh crore.

Source: PTI

Bharat Express English

Recent Posts

ASEAN-India Alliance: A formidable Force Amidst Shifting Global Dynamics

The bilateral trade between India and ASEAN reached USD 86.9 billion in FY 2020-21, making…

1 year ago

India To Serve As Center For Green Hydrogen

By 2030, there will likely be a demand for more than 100 MMT of green…

1 year ago

How Bhutan’s Cross-Border Railway Connectivity With India Opens New Possibilities

Bhutan is gearing up to establish its first internationally connected cross-border railway with India’s north-eastern…

1 year ago

How Political Stability Under PM Modi Is Rocket-Fuelling New India

Opening his company’s first retail outlets in Mumbai and Delhi in May, Tim Cook, the…

1 year ago

COP28: INDIA’S IMPACTFUL ROLE

India’s robust engagement in COP28 amplifies its powerful message on the world stage. At this…

1 year ago

B20: INDIA’S VISION AND ACTION

The B20’s endeavors are carried out through Task Forces (TFs) and Action Councils (ACs), entrusted…

1 year ago