- September 1, 2023
GST revenues grow 11% to about Rs 1.6 lakh crore in August: Govt – Times of India
NEW DELHI: The Goods and Services Tax (GST) collection for August stood at Rs 1.6 lakh crore, showing an 11 per cent growth year-on-year, revenue secretary Sanjay Malhotra said on Friday,
The increase in the mop up has been attributed to growing compliance and less evasion.
This is for the third straight month that GST collections were reported at over Rs 1.6 lakh crore.
The collection from Goods and Services Tax (GST) was Rs 1,43,612 crore in August 2022.
In April this year, the collections touched an all-time high of Rs 1.87 lakh crore.
Malhotra was replying to a question on the expected GST revenue numbers for August, the data for which will be released later on Friday.
Malhotra said GDP growth was 7.8 per cent in June quarter and nominally it has grown 8 per cent.
“GST revenues during June quarter grew by more than 11 per cent. This translates into a tax:GDP ratio of more than 1.3,” Malhotra said.
(With inputs from PTI)
The increase in the mop up has been attributed to growing compliance and less evasion.
This is for the third straight month that GST collections were reported at over Rs 1.6 lakh crore.
The collection from Goods and Services Tax (GST) was Rs 1,43,612 crore in August 2022.
In April this year, the collections touched an all-time high of Rs 1.87 lakh crore.
Malhotra was replying to a question on the expected GST revenue numbers for August, the data for which will be released later on Friday.
Malhotra said GDP growth was 7.8 per cent in June quarter and nominally it has grown 8 per cent.
“GST revenues during June quarter grew by more than 11 per cent. This translates into a tax:GDP ratio of more than 1.3,” Malhotra said.
(With inputs from PTI)
