GST Collections Surge by 10% in August to Rs 1.75 Lakh Crore

Gross GST collections in August increased by 10% to approximately Rs 1.75 lakh crore. Domestic revenue rose by 9.2% to Rs 1.25 lakh crore, while GST from imported goods went up by 12.1% to Rs 49,976 crore. Net GST revenue saw a 6.5% rise after adjusting for refunds.

Gross GST collections for August saw a significant 10% rise, reaching about Rs 1.75 lakh crore, as per government data released on Sunday.

In comparison, GST revenues for August last year were recorded at Rs 1.59 lakh crore, and July's tally stood at Rs 1.82 lakh crore.

This August, domestic revenue increased by 9.2% to approximately Rs 1.25 lakh crore, while GST collections from imported goods grew by 12.1% to Rs 49,976 crore.

Refunds amounting to Rs 24,460 crore were issued during the month, marking a 38% year-over-year increase. After accounting for refunds, net GST revenue for August recorded a 6.5% rise, totaling Rs 1.5 lakh crore.

(With inputs from agencies.)