GST collection jumps 28% YoY in July to second highest ever at Rs 1.49 trn

Collection remains above Rs 1.4 trn for fifth straight month

Goods and services tax (GST) collection remained above Rs 1.4 trillion for the fifth month in a row, increasing 28 per cent year-on-year (YoY) to nearly Rs 1.49 trillion in July. This was the second-highest mop-up since the rollout of the regime.

The uptick is mainly on account of improved economic activities, compliance measures and inflation. The highest-ever mop-up was recorded in April this year (Rs 1.68 trillion).

“GST revenue has grown 35 per cent YoY till July, displaying very high buoyancy,” the finance ministry said while releasing the data on Monday.

The finance ministry also said that this was an impact of