look news india
GST collection for July 2024: Total GST collection in July 2024 has increased by 10 per cent to Rs 1.82 lakh crore from Rs 1.65 lakh crore in July 2023. GST collection in July 2024 increased by 10.3 per cent compared to the same month last year, boosting the government's finances. Sources said today that Rs 1.74 lakh was collected in June 2024. Let us tell you that the Finance Ministry did not release the data of GST collection on July 1, 2024. However, this month the GST Council has uploaded this data on its portal.
Sources said that the total GST collection so far in the current financial year (April-July) has been Rs 7.39 lakh crore. In the total GST collection of Rs 1.82 lakh crore till July 2024, Integrated GST was Rs 47,009 crore and State GST was Rs 40,289 crore. In April 2024, the GST collection was the highest ever at Rs 2.10 lakh crore. In the month of April of the current financial year 2024-25, GST collection of 2.10 lakh crore was done which is a record.
The Finance Ministry issued a statement saying that the monthly data of Goods and Services Tax will now be available in the News and Updates section of the GST website https://www.gst.gov.in. From now on GST collection data will be uploaded on this portal. According to experts, the GST collection figures for July, 2024 are indicating a boom in the strong economy. The tax department as well as the business world have an important role in the growth of GST. Experts say that the collection is expected to increase significantly to push GST reforms.
