GST collections rise 10% to Rs 1.75 lakh crore in August

Gross GST collections in August grew 10 per cent to about Rs 1.75 lakh crore, reflecting higher domestic consumption.

• Revenue trends varied significantly across states

As per the government data released on Sunday, gross GST revenues from domestic transactions grew 9.2 per cent to about Rs 1.25 lakh crore.

Revenues from import of goods were up 12.1 per cent to Rs 49,976 crore.

In July, gross Goods and Services Tax (GST) mop-up was Rs 1.82 lakh crore, while in August last year it was Rs 1.59 lakh crore.

Sequentially, gross revenues in August fell by 3.9 per cent compared to July's figures. Net receipts, which are 3 adjusted for refunds, saw a sharper drop of 9.2 per cent, amounting to Rs 1,50,501 crore in August. This marks the second weakest growth rate this financial year, down - from 14.4 per cent in July.

The uptick in July's gross GST revenues had signalled a strong rebound from June, =which had recorded a threeyear low growth rate of 7.6 per cent. Net receipts growth was also modest at 6.3 per cent in June. The slower growth in August underscores ongoing volatility in revenue trends.