GST Collection in June 2022: There is news of relief on the Goods and Services Tax (GST) front. Gross GST collection in June 2022 has increased by 56 per cent year-on-year. The government has received a total revenue of 1.44 lakh crores from GST in June.
Finance Minister Nirmala Sitharaman has given this information on Twitter. This is the second best month in terms of collections. Earlier in May 2022, 1.41 lakh crore revenue came from GST.
The collection has remained more than 1.40 lakh crores since March 2022. 1.68 lakh crore revenue was achieved in April 2022, which is the highest ever.
On 5 years of GST, the Finance Minister said that the revenue earned from it has remained constant at 1.40 lakh crores. June 2022 is the second highest revenue earning month after April 2022. Prior to this, the collection was weak in the month of June, but this time this trend also broke.
With the economic recovery, anti-evasion activities, especially action against those who pay fake bills, have paid off. The gross cess collection in this month is the highest since the implementation of GST.
For June, CGST revenue stood at Rs 25,306 crore, SGST revenue Rs 32,406 crore, IGST Rs 75,887 crore and GST compensation cess at Rs 11,018 crore.
The government fixed Rs 29,588 crore from IGST in CGST and Rs 24,235 crore in SGST. In addition, the Center also settled Rs 27,000 crore of IGST on an ad-hoc basis between the Center and the states in the ratio of 50:50.
After regular and ad-hoc settlement, the total revenue of the Center and the states in June stood at Rs 68,394 crore for CGST and Rs 70,141 crore for SGST.
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