17% GST growth for Karnataka in July 2023

A total of Rs 11,505 crore was collected by the Karnataka Government as Gross Service Tax (GST) in July 2023, in comparison with July 2022, in which Rs 9797 crore was collected. There has been a steep growth of 17%. 

Karnataka has raced ahead of Tamil Nadu and Gujarat which have collected Rs 10,022 crore and Rs 9787 crore respectively. It is second only to Maharashtra in terms of total amount collected. Maharashtra had collected Rs 26,064 crore in July 2023. However the margins are much narrower when compared in terms of total State Goods and Service Tax (SGST) which includes the state component of the (Integrated Goods and Services Tax (IGST). Gujarat had collected Rs 5210 crore as the total SGST and Tamil Nadu had collected Rs 5419 crore as the total SGST whereas Karnataka had collected Rs 5831 as the total SGST. 

Nationally, the growth rate of GST has been 11%. A total of Rs 1.65 lakh crore in July 2023. This has been the 5th highest ever since the introduction of the GST tax. Experts say that these are positive signs of a recovering economy. 

In March 2023, Karnataka had achieved a steep 18% growth in comparison to March 2022. Rs 10,360 crore was collected in March 2023 whereas Rs 8750 crore was collected in March 2022.