GST collection in August was ₹1.43 lakh crore

GST collection in August was ₹1.43 lakh crore

• According to Finance Ministry data, the government has collected ₹1,43,612 crore as the gross GST revenue in the month of August 2022.
• CGST is ₹ 24,710 crore, SGST is ₹ 30,951 crore, IGST is ₹ 77,782 crore.
• It includes ₹ 42,067 crore collected on import of goods and cess is ₹ 10,168 crore (including ₹ 1,018 crore collected on import of goods).
• The revenues for the month of August 2022 are 28% higher than the GST revenues in the same month in 2021 of ₹ 1,12,020 crore.

SBI Card launches cashback card

• SBICard has launched ‘CASHBACK SBI Card’, a cashback focused credit card, to boost the online transactions.
• Consumers across country, including tier-2 and 3 cities, can apply for the card on the digital application platform ‘SBI Card SPRINT’.
• CASHBACK SBI Card customers will earn unlimited 1% cashback on all spends, cashback will increase to 5% on all online spends up to maximum of ₹ 10,000 per monthly statement cycle.

Services exports rise 20.2% to $23.26 billion in July 2022: RBI data

• As per the Reserve Bank India data, the services exports of India has been increased by 20.2% year-on-year to $23.26 billion in July 2022.
• However, the July exports were lower than June by $25.29 billion in 2022.
• As per the monthly data on India's international trade in services for July 2022, the imports surged by 22.3% to $13.92 billion in July.
• The exports during April-July 2022-23 stood at $94.75 billion, and the imports totalled $58.94 billion during the period.