The total GST collection in the month of August has been recorded at Rs 1,43,612 crore. In this, the share of the Center is Rs 24,710 crore and that of the state is Rs 30,951 crore. The share of Integrated GST has been recorded at Rs 77,782 crore.
GST collection in August: 28% growth in GST collection in August
The month of August has also seen a record growth in GST collections. According to a data from the Finance Ministry, the Goods and Services Tax (GST) collection has seen an increase of 28 percent in August. In the month of July also, the government had earned a good amount from GST. In the month of August, the GST has increased by 28 percent to Rs 1.43 lakh crore. The Finance Ministry has given this information.
According to the government, there has been a spurt in GST collection for the last six months. As far as the month of August is concerned, in this month, for the sixth consecutive month, the GST collection has crossed 1.4 lakh crores. The revenue of the government under GST is seeing an increase every month. Recently, Economic Affairs Secretary Ajay Seth had said that the GST collection in August will be between Rs 1.42 to 1.43 lakh crore and this indicates a boom in the economy. His estimate proved to be correct and in August, the government earned Rs 1.43 lakh crore from GST.
Why is GST collection increasing?
The Finance Ministry has also told what is the reason for the increase in GST and what is the root reason behind it. According to the government, in GST, more people are depositing tax than before and its reporting has improved, due to which the earnings have increased. The government has also said that the economic condition was bad during the Corona period, but now there is a tremendous recovery, which is showing a positive impact on the GST collection.
The total GST collection in the month of August has been recorded at Rs 1,43,612 crore. In this, the share of the Center is Rs 24,710 crore and that of the state is Rs 30,951 crore. The share of Integrated GST has been recorded at Rs 77,782 crore, of which Rs 42,067 crore came from import of goods. Apart from this, Rs 10,168 has been earned from cess i.e. surcharge, of which 1,018 crore is imported.
In which states increased GST
Earlier in the month of July, an increase of 28% was registered in the GST collection. A year ago in August 2021, the government earned Rs 1,12,020 crore from the GST collection. If we talk about the increase in the GST of the states, then the GST of Jammu and Kashmir is 11 percent, Himachal Pradesh has 1 percent, Punjab 17 percent, Chandigarh 24 percent, Uttarakhand 0 percent, Haryana 21 percent, Delhi 21 percent. Rajasthan has registered an increase of 10 percent, UP 14 percent, Bihar 23 percent, Sikkim 13 percent, Arunachal Pradesh 11 percent and Nagaland 18 percent.