According to the GST revenue data released on Thursday, 1st September, the Gross GST Revenue collected in the month of August 2022 grew by 28% year-on-year to Rs 1,43,612 crore as against Rs 1,12,020 crore in the month of August 2021.
Gross GST revenue fell by 3.6% month-on-month to Rs 1,43,612 crore in August 2022, as against Rs 1,48,995 crore in July. Integrated Goods and Services Tax (IGST) stood at Rs 77,782 crore and Cess at Rs 10,168 crore in the month of August 2022.
The Central Goods and Service Tax (CGST) collection in the month of August 2022 stood at Rs 24,710 crore and the State Goods and Services Tax (SGST) was Rs 30,951 crore.
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The Government of India’s consolidated account has received Rs 7,85,914 crore till July 2022 of the financial year 2022-23, which includes net tax revenue of Rs 6,66,212 crore from the Centre, non-tax revenue of Rs 89,583 crore, and non-debt capital receipts of Rs 30,119 crore.
Integrated Goods and Services Tax (IGST) collected on import of goods in August 2022 is Rs 42,067 crore and Cess collected on import of goods is Rs 1,018 crore.
The Government of India has transferred Rs 2,01,108 crore to the State Governments as devolution of the share of taxes from April 2022 to July 2022, which is an increase of 17.9% over the previous year.
According to data released by MoSPI yesterday, India’s GDP grew at 13.5% in the first quarter (April-June) of FY 2022-23 and India’s retail inflation fell to a five-month low of 6.71% in July.
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GST collection data
|April 2022||Rs 1,67,540|
|May 2022||Rs 1,40,885|
|June 2022||Rs 1,44,616|
|July 2022||Rs 1,48,995|
|August 2022||Rs 1,43,612|
The total expenditure by the Government of India for the financial year 2022-23 up to July 2022 is Rs 11,26,745 crore which is 28.6% of the budget estimate for the same year, out of which Rs 9,18,075 crore is on the revenue account and Rs 2,08,670 crore is on the capital account.
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