The GST collection for the month of July was recorded at Rs 1,65,105 crore, the Ministry of Finance said on Tuesday. GST collection crossed the Rs 1.6 lakh crore mark for the fifth time since the inception of the goods and services tax. The revenues for July are 11 per cent higher than the GST revenues in the same month last year.

Of the gross GST of Rs 1.65 lakh crore collected in July, Rs 29,773 crore is CGST and Rs 37,623 crore is SGST. Rs 85,930 crore is IGST, including Rs 41,239 crore that was collected on import of goods, and cess is Rs 11,779 crore, including Rs 840 crore collected on import of goods.

The ministry added that the government settled Rs 39,785 crore to CGST and Rs 33,188 crore to SGST from IGST. The total revenue of Centre and the states in July is Rs 69,558 crore for CGST and Rs 70,811 crore for the SGST, after regular settlement.

The government said that the revenues for July are 11 per cent higher than the GST revenues for the same month last year. Revenues from domestic transactions, including import of services, are 15 per cent higher than the same month last year. 

GST revenue for the previous month stood at Rs 1,61,487 crore, which was an increase of 12 per cent on-year. However, it was a marked dip from the record-high GST collection of Rs 1.87 lakh crore in April and a sizeable increase from the GST collection of Rs 1,57,090 crore in May. 

Separately, the Goods and Services Tax Council is likely to clarify how taxes will be levied on online gaming, as per a source familiar with the development. The council is also expected to clarify what would be included in the definition – games of skill or of chance. 

The Finance Minister Nirmala Sitharaman-led council is slated to meet via video conferencing on August 2, to decide on the legal amendment as well as rules to levy the tax. The council had levied a 28 per cent GST on online gaming, horse racing and casinos on the full value on July 11.