Gross GST revenue Collection of Rs.143612 Crore in month of August 2022

The gross GST revenue collection for the month of August 2022 is Rs.1,43,612 crore of which CGST is Rs.24,710 crore, SGST is Rs.30,951 crore, IGST is  Rs.77,782 crore (including Rs.42,067 crore collected on import of goods) and cess is Rs.10,168 crore (including Rs.1,018 crore collected on import of goods).

The government has settled Rs.29,524 crore to CGST and Rs.25,119 crore to SGST from IGST. The total revenue of Centre and the States in the month of August 2022 after regular settlement is Rs.54,234 crore for CGST and Rs.56,070 crore for the SGST.

The revenue for August 2022 is 28% more than the GST revenue of 1,12,020 crore for the same month previous year. In comparison to the same month last year, the income from domestic transactions, which includes the import of services, was 19% higher during the month and the income from imported commodities was 57% higher.

The monthly GST earnings have now exceeded the 1.4 lakh crore threshold for six consecutive months. GST revenue has increased by 33% through August 2022 compared to the same period in the previous year, continuing to show very strong buoyancy. This is an obvious result of the numerous actions the Council has taken in the past to achieve greater compliance. The economic rebound and improved reporting have consistently had a favourable influence on GST revenues. 7.6 crore e-way bills were produced in July 2022, which was a little increase from 7.4 crore in June 2022 and a 19% increase from 6.4 crore in July 2021.

The chart below shows trends in monthly gross GST revenues during the current year. The table shows the state-wise figures of GST collected in each State during the month of August 2022 as compared to August 2021.

State-wise growth of GST Revenues during August 2022