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GST Collection: The Narendra Modi government at the Center has completed one year of implementing the Goods and Services Tax i.e. GST. In these six years, there has been a significant increase in the government exchequer due to GST. In the month of June, once again there has been a record breaking increase in GST. India’s Goods and Services Tax (GST) collection has crossed the Rs 1.60 lakh crore mark in June, the Finance Ministry said in a statement on Saturday.
Finance Ministry released figures
According to the Finance Ministry, this is the fourth time since the introduction of GST that the gross collection has crossed the Rs 1.60 lakh crore mark. Ever since the introduction of the Goods and Services Tax, the collection has crossed the 1.50 lakh crore mark for the seventh time. According to data released by the Finance Ministry, out of the gross GST revenue of Rs 1,61,497 crore, Rs 31,013 crore is the Central Goods and Services Tax (CGST). On the other hand, the State Goods and Services Tax (SGST) is ₹38,292 crore, while the Integrated Goods and Services Tax (IGST) is ₹80,292 crore. At the same time, the ministry also said that the cess is Rs 11,900 crore.
Also Read:GST officials unearthed fraud worth Rs 35,000 crore in last one year, 426 people arrested
Here is the collection last month
In the last month of May, the government had received a tax of Rs 1.57 lakh crore from the Goods and Services Tax. The GST received by the government in the month of May was 12 percent more than last year. At the same time, in the month of April also GST had broken all the records till now. In the month of April, the government had received an amount of about Rs 1.87 lakh crore from GST. The figures of GST collection show that the Central Government is earning a lot from this.
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