GST collections up 56 per cent year-on-year

Story by  ATV | Posted by  Nakul Shivani • 1 Years ago
Finance Minister Nirmala Sitharaman
Finance Minister Nirmala Sitharaman


New Delhi

Goods and Services Tax collection for the month of June 2022 came in at Rs 1.44 lakh crore, a 56 per cent rise from the same month last year.

The previous month May, the GST collections surged to around Rs 1.41 crore, posting a year-on-year increase of 44 per cent.

It is important to note that the GST revenue collections crossed the Rs 1.5 lakh crore mark for the first time in the month of April at Rs 1.68 lakh crore.

The government has claimed that Rs 1.40 lakh crore seems to be the rough bottom line. “We're not going below that, we're only collecting more than that," said Union Finance Minister Nirmala Sitharaman.

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Friday marks the completion of the five-year GST regime. The government through the GST taxation system intended to bring in uniform taxes across the country, besides transparency, accountability, and a simpler registration process.