July goods and services tax receipts rise 11% YoY to Rs 1.65 trn

NEW DELHI (Reuters) -India's goods and services tax (GST) collections rose 11% from a year earlier to 1.65 trillion rupees ($20.05 billion) in July, a government statement showed on Tuesday.

The government collected 1.49 trillion rupees as GST in July 2022 and 1.61 trillion rupees in June 2023.

It expects to garner 9.56 trillion rupees through GST in the current fiscal year that ends in March 2024.

The GST collections are expected to further increase in coming months with the approaching festival season, said Abhishek Jain, a partner at KPMG.

($1 = 82.2850 Indian rupees)

(Reporting by Nikunj Ohri; Editing by Jacqueline Wong)