The Goods and Service Tax collection in June increased by 56% to over Rs 1.44 lakh crore compared to the same month last year, the Union finance ministry said on Friday. In June 2021, the collection stood at Rs 92,800 crore.
The ministry said it was the fifth time that the monthly GST collections crossed the Rs 1.40-lakh-crore mark since its inception in 2019.
“During the month, revenues from import of goods was 55% higher and the revenues from domestic transaction [including import of services] are 56% higher than the revenues from these sources during the same month last year,” the ministry said.
Of the total revenue, Central GST amounted to Rs 68,394 crore and state GST Rs 70,141 crore, the finance ministry said.
“The government has settled Rs 29,588 crore to CGST and Rs 24,235 crore to SGST from IGST [Integrated GST],” the ministry said. “In addition, Centre has also settled Rs 27,000 crore of IGST on ad-hoc basis in the ratio of 50:50 between Centre and States/UTs in this month.”
The total number of e-way bills generated in the month of May 2022 was 7.3 crore, which is 2% less than 7.4 crore generated in April 2022, the ministry added.
E-way bills are a part of system to ensure that transported goods comply with the GST regualtions. It can also track movement of goods and check tax evasion.