In June, Goods & Services Tax (GST) collection reached ₹1.74 lakh crore, showing an 8% increase compared to June of the previous fiscal year, official sources revealed on Monday. Moving forward, the Finance Ministry will no longer release detailed GST collection data on the first day of every month, a practice that has been in place for 74 months. The reason for this change was not disclosed. This shift coincided with the seventh anniversary of the GST system, which consolidated 17 taxes and 13 cesses from both Central and State Governments.
Despite the discontinuation of detailed monthly data, the Finance Ministry shared some statistics and statements via social media to mark the achievements of the GST over the past seven years. June’s collection showed an 8% year-over-year growth but remained stable compared to May’s ₹1.73 lakh crore. In the first quarter, the total collection has reached ₹5.57 lakh crore, attributed to improved compliance and consumption.
In a social media post, the Finance Ministry highlighted that the GST’s implementation has reduced tax rates on household goods, bringing “happiness and relief to every home” through lower taxes on items like household appliances and mobile phones. The theme for the 7th GST Day is “Sashakt Vyapar Samagra Vikas” (Empowered Trade, Overall Growth).
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