GST collections in June witnessed a 56 percent year-on-year increase to more than Rs 1.44 lakh crore for economic recovery and better anti-circumvention measures, the Ministry of Finance said on Friday.
Goods and services tax (GST) collections in June 2021 amounted to Rs 92,800 crore.
Speaking at the GST Day celebrations, Finance Minister Nirmala Sitharaman said Rs 1.4 lakh crore is the “crude bottom line” for monthly GST earnings.
This is the fifth time monthly GST collections have crossed the Rs 1.40-lakh-crore mark since the start of the GST and the fourth straight month since March 2022, the ministry said in a statement.
In June, revenues from imports of goods were 55 percent higher and revenues from domestic transactions (including imports of services) 56 percent higher than revenues from these sources in the same month last year.
The total number of e-waybills generated in the month of May 2022 was 7.3 crore, which is 2 percent less than 7.4 crore of e-waybills generated in the month of April 2022, the ministry added.
GST collections in May stood at Rs 1.41 lakh crore and reached a record high of Rs 1.68 lakh crore in April.