GST Mop-Up At Over ₹1.16l Cr In July; 2nd Highest This Fiscal

GST mop-up grew 33 per cent year-on-year in July to over Rs 1.16 lakh crore, indicating that the economy is recovering at a fast pace

NEW DELHI: In signs of acceleration in economic activity, India’s tax collections on goods sold and services rendered returned to over Rs 1 lakh crore in July after the second wave of Covid-related restrictions caused a blip in the previous month.

Goods and Services Tax (GST) mop-up grew 33 per cent year-on-year in July to over Rs 1.16 lakh crore, indicating that the economy is recovering at a fast pace. In July 2020, the collection was Rs 87,422 crore.

This is the second-highest collection so far this fiscal after a record Rs 1.41 lakh crore mop-up in April.

The finance ministry in a statement said robust GST revenues are likely to continue in the coming months as well.

The gross GST revenue collected in the month of July 2021 is Rs 1,16,393 crore of which Central GST is Rs 22,197 crore, State GST is Rs 28,541 crore, Integrated GST is Rs 57,864 crore (including Rs 27,900 crore collected on import of goods) and Cess is Rs 7,790 crore (including Rs 815 crore collected on import of goods).

The revenues for the month of July 2021 are 33 per cent higher than the GST revenues in the same month last year and include GST returns filed IGST and cess collected from imports for the same period.