In July, GST revenue increased to Rs 1.49 trillion, a 28 percent YoY increase.
The July GST mop-up is now the second-highest sum collected in a month, totaling Rs 1.49 lakh crore.
The Goods and Services Tax (GST) revenue received in India in July totaled Rs. 1.49 lakh crore, up 28% over the corresponding month in 2016, the finance ministry reported on August 1.
The amount of GST money collected in July was 3% more than it was in June.
The finance ministry stated in a statement that "for five consecutive months, the monthly GST revenues have been more than Rs 1.4 lakh core, exhibiting a steady increase every month."
Of the total GST collections, Central GST was Rs 25,751 crore, while State GST was Rs 32,807 crore. Integrated GST was Rs 79,518 crore and cess was Rs 10,920 crore.
From the Integrated GST, the government paid out Rs. 32,365 crores to the Central GST and Rs. 26,774 crores to the State GST. As a result, after settlement, the Centre's and the States' respective July total revenues were Rs 58,116 crore and Rs 59,581 crore.
The July GST collection, which surpassed the June total by 3% and reached Rs 1.49 lakh crore, is now the second-highest amount ever amassed in a single month.
The biggest amount of GST ever collected in a month was Rs 1.68 lakh crore, which was accomplished in April of this year.
GST collections have been averaging Rs 1.51 lakh crore each month so far, this fiscal year, which is 22% more than the monthly average for FY22.
"The economic rebound and improved reporting have consistently had a favorable effect on GST revenues. The number of e-way bills issued in June 2022 was 7.45 crore, somewhat more than the 7.36 crore generated in May 2022 "given by the finance ministry.
