According to data from the finance ministry, the central and state governments collected ₹1.82 trillion in goods and services tax (GST) in July, representing a 10.3% increase from the previous year. GST receipts also increased compared to the ₹1.74 trillion collected in July 2024.
Even though July’s GST revenue receipts fell short of April’s record 2.1 trillion, experts said they were still in line with the strong revenue receipts and would probably rise even more as the holiday season draws near. The GST numbers for July are based on sales from June 2024, which is usually a slower month before the holidays.
Collections grew more than 10% from last year to this one, in line with projections, and shows that the GST implementation in India is stable and mature. According to Abhishek Jain, partner and head of indirect tax at KPMG India, collections should rise even more in light of the upcoming holidays.
Despite refunds being 19.4% lower than in the same month last year, GST collections increased by 14.4% at the net level, which includes refunds of ₹16,283 crore. The producer states that collected the most GST in terms of value were Uttar Pradesh, Karnataka, Tamil Nadu, and Maharashtra.
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