GST collection grows 5.8% to Rs 1.02 lakh crore in July

GST collection in July surpassed the Rs 1-lakh-crore mark after a slump in the pevious month. As per data released by the government on Thursday, the total mop-up under Goods and Services Tax was reported to be Rs 1.02 lakh crore in July 2019.

GST collection in July 2019 showed a year-on-year growth of 5.8 per cent over the revenue of Rs 96,483 crore reported in July 2018. GST collections have exceeded Rs 1 lakh crore in four out of the past five months, missing the Rs 1-lakh-crore mark only in June 2019. In that month, GST collections had slipped down to Rs 99,939 crore.

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Out of the total GST collection in July, CGST is Rs 17,912 crore, SGST is Rs 25,008 crore, IGST is Rs 50,612 crore (including Rs 24,246 crore collected on imports), and cess is Rs 8,551 crore (including Rs 797 crore collected on imports), the government data showed. The total number of GSTR-3B Returns filed for June up to July 31, 2019, was 75.79 lakh.

"During April-July 2019 vis-a-vis 2018, the domestic component has grown by 9.2 per cent while the GST on imports has come down by 0.2 per cent and the total collection has grown by 6.83 per cent. Rs. 17,789 crore has been released to the states as GST compensation for the months of April-May, 2019," Ministry of Finance said in its statement.

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