New Delhi: The Goods and Services Tax (GST) collections for the month of June have reached a significant amount of ₹1,61,497 crore, marking the second-highest collection this fiscal year. In comparison, the highest collection recorded was ₹1,87,035 crore in April.
Out of the total collection, ₹31,013 crore was collected under CGST, ₹38,292 crore under SGST, ₹80,292 crore under IGST, and ₹11,800 crore under cess. Additionally, an amount of ₹36,224 crore received by the Central Finance Department under IGST has been adjusted to CGST, while ₹30,269 crore has been adjusted to SGST.
Of the total revenue received in June, ₹67,237 crore under CGST has gone to the Center, and ₹68,561 crore under SGST has been distributed among the states. Compared to June of the previous year, there has been a 12% growth in tax collections this time. It is worth noting that this is the fourth time the collection has crossed the ₹1.60 lakh crore mark since the implementation of the GST system.
The average monthly GST collection in 2021-22 was ₹1.10 lakh crore, which increased to ₹1.51 lakh crore in 2022-23 and further rose to ₹1.69 lakh crore in 2023-24.
In terms of regional growth, Telangana and Andhra Pradesh recorded a significant increase in GST collections for June, with growth rates of 20% and 16%, respectively. Telangana’s collections rose from ₹3,901.45 crore in June 2022 to ₹4,681.39 crore in June 2023, while Andhra Pradesh witnessed a growth from ₹2,986.52 crore to ₹3,477.42 crore. Among the southern states, Karnataka recorded a growth rate of 27%, Kerala 26%, and Tamil Nadu 20%. However, Andhra Pradesh’s growth rate was comparatively lower.
From the IGST collection, the Central Finance Department adjusted ₹30,268.53 crore to SGST. Telangana received ₹1,621.37 crore, while Andhra Pradesh received ₹1,159.88 crore.
The steady growth in GST collections reflects positive economic trends and strengthens the revenue base, contributing to the overall financial health of the country.
