GST revenues grow 11% to about Rs 1.6 lakh crore in August: Govt

NEW DELHI: The Items and Providers Tax (GST) assortment for August stood at Rs 1.6 lakh crore, displaying an 11 per cent development year-on-year, income secretary Sanjay Malhotra mentioned on Friday,
The rise within the mop up has been attributed to rising compliance and fewer evasion.
That is for the third straight month that GST collections have been reported at over Rs 1.6 lakh crore.
The gathering from Items and Providers Tax (GST) was Rs 1,43,612 crore in August 2022.
In April this 12 months, the collections touched an all-time excessive of Rs 1.87 lakh crore.
Malhotra was replying to a query on the anticipated GST income numbers for August, the info for which shall be launched afterward Friday.
Malhotra mentioned GDP development was 7.8 per cent in June quarter and nominally it has grown 8 per cent.
“GST revenues throughout June quarter grew by greater than 11 per cent. This interprets right into a tax:GDP ratio of greater than 1.3,” Malhotra mentioned.
(With inputs from PTI)

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