GST collections rise 10% to Rs 1.75 lakh crore in August

The government collected Rs 1.75 lakh crore in gross Goods and Services Tax (GST) in August, marking an increase of 10 per cent over the corresponding period a year ago, according to provisional figures released on Sunday. 

In July, GST collections rose 10.3 per cent to more than Rs 1.82 lakh crore mainly driven by a jump in domestic transactions. That was the third-highest monthly tally recorded since the inception of the indirect tax regime in July 2017.

According to the data, total refunds stood at Rs 16,283 crore in July. The net Goods and Services Tax (GST) collection after adjusting refunds was over Rs 1.66 lakh crore, a growth of 14.4 per cent. The Gross GST revenue stood at Rs 1,82,075 crore, which includes Central GST of Rs 32,386 crore, State GST of Rs 40,289 crore, and Integrated GST of Rs 96,447 crore. The compensation cess mop-up was Rs 12,953 crore.

With inputs from agencies