GST Collections In July Rise 11 Per Cent YoY To Rs 1.65 Lakh Crore

Mizoram reported the largest growth in GST collected in all the states, with a 47 per cent increase on a YoY basis.

The data reported a GST collection of Rs 1.65 lakh crore In July, an increase of 2.2 per cent from the GST collections reported in June in the same year. 

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Goods and Services Tax (GST) collections in India increased by 11 per cent in July on a year-on-year (YoY) basis. The data released by Nirmala Sitharaman, Finance Minister reported a GST collection of Rs 1.65 lakh crore In July, an increase of 2.2 per cent from the GST collections reported in June in the same year. 

This is the fifth month in a row, where GST collections have crossed the Rs 1.5 lakh crore mark, the ministry stated in its official release. "During the month, the revenues from domestic transactions (including import of services) are 15 per cent higher than the revenues from these sources during the same month last year," the ministry added. 

GST collections rise 11 pc to over Rs 1.65 lakh crore in July: FinMin.

— Press Trust of India (@PTI_News) August 1, 2023

Mizoram reported the largest growth in GST collected in all the states, with a 47 per cent increase on a YoY basis. Maharashtra became the largest contributor in GST collections with a state-wise revenue of Rs 26,064 crore in July, 2023. 

According to the 2023-24 Budget, the government expects a 12 per cent rise in its GST collections for the current fiscal year. 

The government has settled Rs 39,785 crore to CGST and Rs 33,188 crore to SGST from IGST. The total revenue of Centre and the states in the month of July 2023 after regular settlement is Rs 69,558 crore for CGST and Rs 70,811 crore for the SGST.

The revenues for the month of July 2023 are 11 per cent higher than the GST revenues in the same month last year. During the month, the revenues from domestic transactions (including import of services) are 15 per cent higher than the revenues from these sources during the same month last year. It is for the fifth time, the gross GST collection has crossed Rs 1.60 lakh crore mark. 

State-wise growth of GST revenues during July 2023 (Rs in crore)

State/UT	July’22	July’23	Growth(%)
Jammu and Kashmir	431	549	27
Himachal Pradesh	746	917	23
Punjab	1733	2000	15
Chandigarh	176	217	23
Uttarakhand	1390	1607	16
Haryana	6791	7953	17
Delhi	4327	5405	25
Rajasthan	3671	3988	9
Uttar Pradesh	7074	8802	24
Bihar	1264	1488	18
Sikkim	249	314	26
Arunachal Pradesh	65	74	13
Nagaland	42	43	3
Manipur	45	42	-7
Mizoram	27	39	47
Tripura	63	78	23
Meghalaya	138	175	27
Assam	1040	1183	14
West Bengal	4441	5128	15
Jharkhand	2514	2859	14
Odisha	3652	4245	16
Chhattisgarh	2695	2805	4
Madhya Pradesh	2966	3325	12
Gujarat	9183	9787	7
Daman and Diu	313	354	13
Dadra and Nagar Haveli
Maharashtra	22129	26064	18
Karnataka	9795	11505	17
Goa	433	528	22
Lakshadweep	2	2	45
Kerala	2161	2381	10
Tamil Nadu	8449	10022	19
Puducherry	198	216	9
Andaman and Nicobar Islands	23	31	32
Telangana	4547	4849	7
Andhra Pradesh	3409	3593	5
Ladakh	20	23	13
Other Territory	216	226	4
Center Jurisdiction	162	209	29
Grand Total	106580	123026	15