GST mop-up up 14.8% in August

Gross Goods and Services Tax (GST) collections rose 14.8% year-on-year to about ₹2 lakh crore in August, according to official figures reported by The Hindu Business Line and The Hindu – World.

Revenue from domestic transactions grew 9.3% to over ₹1.37 lakh crore, while revenue from imports increased 29% to ₹62,604 crore.

Component-wise break-up

The gross Central GST collection stood at ₹38,413 crore, State GST at ₹46,316 crore, and Integrated GST at over ₹1.15 lakh crore during the month, the reports said.

Refunds and net collections

Refunds jumped 68% to ₹31,795 crore in August. Net GST collection for the month stood at ₹1.68 lakh crore, registering an 8.3% year-on-year growth.