GST collection touches Rs 1 lakh crore-mark in July, second-highest this fiscal

Goods and Services Tax (GST) mop-up grew by 33 per cent year-on-year in July to over Rs 1.16 lakh crore.

In what can be seen as a sign that economic activity is picking up pace in the country, India's tax collections on goods sold and services rendered returned to over Rs 1 lakh crore in July. The figures are an improvement from the previous month when lockdown-like restrictions were imposed in most states to contain the second wave of Covid-19. Goods and Services Tax (GST) mop-up grew 33 per cent year-on-year in July to over Rs 1.16 lakh crore, indicating that the economy is recovering at a fast pace. In July 2020, the collection was Rs 87,422 crore.