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GST Collection: More than Rs 1.44 lakh crore GST collection in June, 2022

GST Collection Data: The GST collection in the month of June has been Rs 1,44,616 crore. In April 2022, the GST collection was Rs 1,67,540 crore, after that this figure for June is the second highest. There is a jump of 56 percent in GST collection as compared to the month of June of last year 2021. In the total collection, CGST stood at Rs 25,306 crore and SGST stood at Rs 32,406 crore. IGST collection stood at Rs 75,887 crore of which Rs 40,102 crore came from imported goods. Cess collection has been Rs 11,018 crores.

In the month of June, the revenue of the central and state government after regular and adhoc settlement has been Rs 68,394 crore for CGST and Rs 70,141 crore for SGST. The GST collection in June last year has been Rs 92,800 crore. 56 percent of the collection has been in June, 2022. This is the fifth time since the implementation of the GST tax system in the country on July 1, 2017 that the monthly GST collection figure has exceeded Rs 1.40 lakh crore. At the same time, for the fourth consecutive month every month since March this year, the collection has been more than Rs 1.40 lakh.

The average GST collection between the first quarter of the 2022-23 financial year i.e. April to June has been 1.51 lakh crores, while the average GST collection in the first quarter of 2021-22 was Rs 1.10 lakh crores. That is, the GST collection has increased by 37 percent in the first quarter of the current financial year as compared to the first quarter of the previous year. In fact, GST collection has increased due to the boom in economic activity, steps taken to check GST evasion, especially action against those making fake bills.

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