Government earned a lot through GST in July, good news came for the fifth consecutive month

Good news has come once again regarding the GST collection (GST Collection July 2022). For the fifth consecutive month, the GST collection has been above Rs 1.40 lakh crore. According to the latest data released by the Finance Ministry, the GST collection in the month of July stood at Rs 1,48,995 crore. This time the collection is 28% higher as compared to July last year. Let us tell you, according to the government data, the GST collection in this month last year was Rs 1,16,393 crore.

The GST collection for July is the highest since April. In April this year, the government had collected Rs 1.68 lakh crore through GST collections. Let us tell you, for the first time, the GST collection was Rs 1.50 lakh crore.

In the July GST collection, CGST was Rs 25,751 crore, SGST was Rs 32,807 crore and IGST was Rs 79,518 crore. While the cess has been collected at Rs 10,920 crore. In a statement issued by the Finance Ministry, it has been said that for the fifth consecutive month, the GST collection has been above Rs 1.40 lakh crore. The impact of the decisions taken by the GST Council is clearly visible. There is a continuous growth in the GST collection every single month. The revenue from import of goods grew by 48 per cent during the period under review. Revenue from domestic transactions (including import of services) was 22 per cent higher than the corresponding month of the previous year.

Top 5 collections of GST so far

April 2022 – Rs 1,67,540 crore
July 2022 – Rs 1,48,995 crore
March 2022 – Rs 1,42,095 crore
January 2022 – Rs 1,40,986 crore
May 2022 – Rs 1,40,885 crore

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