GST collections up 56 pc to Rs 1.44 lakh cr in June

GST collections in June witnessed a 56 percent year-on-year increase to over Rs 1.44 lakh crore on economic recovery and better anti-evasion measures, the finance ministry said on Friday.

Goods and Services Tax (GST) collections in June 2021 stood at Rs 92,800 crore.

Speaking at the GST Day celebrations, Finance Minister Nirmala Sitharaman said Rs 1.4 lakh crore is the ''rough bottom line'' for monthly GST revenue collections.

This is the fifth time that the monthly GST collections crossed the Rs 1.40-lakh-crore mark since the inception of GST and the fourth month at a stretch since March 2022, the ministry said in a statement.

During June, revenues from import of goods were 55 percent higher and the revenues from domestic transactions (including import of services) were 56 percent higher than the revenues from these sources during the same month last year.

The total number of e-way bills generated in May 2022 was 7.3 crore, which is 2 percent less than 7.4 crore e-way bills generated in April 2022, the ministry added.

GST collections in May were Rs 1.41 lakh crore and in April hit a record high of Rs 1.68 lakh crore.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)