Business

GST recovery 1.45 lakh crore in June

New Delhi, The collection of Goods and Services Tax i.e. GST has been above one lakh 40 thousand crores for the third consecutive month. The revenue collection figures for the month of June came on the day of the completion of five years of the implementation of GST. According to this, the GST collection in June increased to one lakh 45 thousand crore rupees. A month ago in May, it was one lakh 41 thousand crore rupees. If we look year after year, it is 56 percent more than in May 2021.

The biggest GST collection so far was in the month of April, when the monthly collection of GST was more than one lakh 60 thousand crore rupees. The June collection is the second big collection. GST collections have remained above the 1.40 lakh crore mark since March. The Central GST in the month of June stood at Rs 25,306 crore. States’ GST stood at Rs 32,406 crore and Integrated Vehicle IGST was Rs 75,887 crore. The collection of GST Compensation Cess stood at Rs 11,018 crore.

This is the fifth time since the implementation of GST five years ago and the fourth time in a row since March 2022 that the GST collection has crossed Rs 1.40 lakh crore. In April 2022, the collection of GST was more than one lakh 67 thousand crores. Despite the increase in the collection of GST, the state government is not satisfied about its sharing and many state governments have appealed to go ahead with the system of compensation for loss. Several states raised this issue in the two-day GST Council meeting held in Chandigarh.

Shivam Bangwal

Shivam Bangwal is an Indian based entrepreneur who is a tech, travel and coding enthusiast with a post graduation degree on Master's of Computer Applications. He is a founder of Youthistaan, People News Chronicle, Hitchhike TV, Branding Panther and many more.
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