Mokokchung, August 1 (MTNews):Ever since the introduction of the Goods and Services Tax, the Gross GST revenue collected in the month of July 2022 was the second highest collection at Rs. 1,48,995 crore. As per the data released by the government on Monday, the July revenue figure is 28% higher than the revenues of July 2021. Meanwhile, Nagaland witnessed a growth of 48% in its GST revenue in July 2022 as compared to July 2021.
Out of the Gross revenue collected in the month of July 2022, Rs. 25,751 crore is from CGST, Rs. 32,807 crore from SGST,Rs. 79,518 crore (including Rs. 41,420 crore collected on import of goods) and cess is Rs. 10,920 crore (including Rs. 995 crore collected on import of goods.
During the month, revenues from import of goods were 48% higher and the revenues from domestic transaction (including import of services) were 22% higher than the revenues from these sources during the same month last year.
“For five months in a row now, the monthly GST revenues have been more than Rs.1.4 lakh core, showing a steady increase every month. The growth in GST revenue till July 2022 over the same period last year is 35% and displays a very high buoyancy. This is a clear impact of various measures taken by the Council in the past to ensure better compliance. Better reporting coupled with economic recovery has been having positive impact on the GST revenues on a consistent basis,” the Ministry of Finance said.