Global Economy

GST collection surpasses Rs one lakh crore in July, stands at Rs 1.02 lakh crore

In a good news for the government, GST collection for the month of July has surpassed the one lakh crore mark. Central GST stands at Rs 17,912 crore; and SGST at Rs 25,008 crore. This is the fourth time that GST collection has crossed the Rs one lakh crore mark in the past five months. This comes on account of better compliance.

The total number of GSTR 3B returns filed for June up to July 31 is 75.79 lakh. GST Collection dipped below the Rs one lakh crore mark in June for the first time this fiscal.

Over the months GST had stabilised above the one lakh crore mark. The government needs over a lakh of crores in GST in order to meet its fiscal target and also to not compensate states for losses.

Gross GST collection stood at Rs 1,00,289 crore in May and Rs 1,13,865 crore in April.


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