InvestorQ : How did the GST collections pan out for the month of July 2022?
diksha shah made post

How did the GST collections pan out for the month of July 2022?

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Dilmini Mercia answered.
1 week ago
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The goods and services tax collections have now stabilized at a level of Rs1.45 to Rs1.50 trillion on a monthly basis. For the monthy of July 2022, the GST collections stood at an impressive Rs1.49 trillion. Incidentally, this is the second highest level of monthly GST collectiosn achieved till date, following the record Rs1.68 trillion that was delivered in the month of April 2022 this year. The sharply higher collections of GST can be attributed to improved economic activity and better compliance measures; but also to inflation.

The government would draw comfort from the fact that the GST collections have stabilized at a robust level of around Rs1.50 trillion on a monthly basis. Adjusted for inflation, the collecitons could be lower, but it is still much higher than pre-COVID levels. Out of the total mop-up in the month of July 2022, Central GST (CGST) collections were at Rs25,751 crore, state GST (SGST) stood at Rs32,807 crore, integrated GST (IGST) was the leader of the pack with Rs79,518 crore while the cess mop-up stood at a more subdued Rs10,920 crore.

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