Finance Ministry reports a 12% increase in GST receipts to over Rs 1.61 trillion for the month of June.

For the fourth time since the introduction of the
indirect tax regime on July 1, 2017, gross GST collection has surpassed the Rs
1.60 lakh crore mark.

The Finance Ministry reported on Saturday that GST
receipts increased by 12 percent in June, reaching more than Rs 1.61 lakh
crore.

Read also this:  Indian Economy Overcame Twin-balance Sheet Problem, Banks Profitable: FM Nirmala Sitharaman.

For the fourth time since the introduction of the
indirect tax regime on July 1, 2017, gross GST collection has surpassed the Rs
1.60 lakh crore mark.

The average monthly cumulative GST collection in the
first (April-June) quarter of 2021-22, 2022-23, and 2023-24 is Rs 1.10 lakh
crore, Rs 1.51 lakh crore, and Rs 1.69 lakh crore, respectively, according to a
statement from the Finance Ministry.

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), bringing the total gross GST revenue
collected in June 2023 to Rs 1,61,497 crore, according to the statement.

GST receipts in June 2023 are up 12% compared to
receipts in June 2022. Revenues from domestic transactions (including import of
services) for the month are 18% higher than the same period the previous year.

In April, sales reached a new all-time high of Rs
1.87 lakh crore. May’s total amounted to Rs 1.57 lakh crore.

OTT India updates you with the latest news, Country’s no.1 digital news platform OTT India, Keeps you updated with national, and international news from all around the world. For more such updates, download the OTT India app on your Android and IOS device.