August GST Collection: Higher than last year..?

Sowmiya Sriram
August GST Collection: Higher than last year..?
The Union Finance Ministry has announced that the collection of goods and services tax, known as GST, has increased by 28 percent in august 2022 compared to last year. In august alone, the GST collection in the country reached Rs 1.43 lakh crore. It is the sixth consecutive month that the GST collection has crossed 1.40 lakh crore. It is noteworthy that the record is being created.
While the Union Finance Ministry has been reporting the GST collection every month, the Union Finance Ministry has announced the GST collection for August. In august 2022 alone, it reached Rs. 1.43 lakh crore, 28% over last year. But at the same time, compared to last July's GST collection, it is noteworthy that the GST collection is 4 percent less in August.
Also, for the fifth consecutive month, the GST tax collection has been more than 1.40 lakh crore, and the GST collection was 1 lakh 12 thousand 20 crores in august 2021, and now it has increased by 28 percent to 1 lakh 43 thousand 612 crores, according to the Ministry of Finance.
It has been reported that the Central GST collection is Rs 24,710 crore and the State GST collection is Rs 30,951 crore.
Following this, the Union Finance Ministry said that the combined GST tax collection by the central and state governments is 77,782 crores, of which 10,188 crores have been received as cess tax only. Also, the Central GST is Rs.32,3654 crores and from the consolidated GST, Rs.26,774 crores have been shared with the states. As the economy of the country is gradually increasing, the GST tax collection is also increasing and due to the various measures taken by the GST Council, the tax collection is increasing every month.

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