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Covid Impact: GST Collections Falls Below Rs 1 Lakh Crore in June

By TM Staff,

Added 06 July 2021

GST collection, after posting above Rs 1 lakh crore mark for eight months in a row, the collection in June’2021 dropped to Rs 92,849 crore

gst

The gross GST revenue collected in June’ 2021 is Rs 92,849 crore of which CGST is Rs 16,424 crore, SGST is Rs 20,397, IGST is Rs 49,079 crore (including Rs 25,762 crore collected on import of goods) and Cess is Rs 6,949 crore (including Rs 809 crore collected on import of goods). The above figure includes GST collection from domestic transactions between 5th June to 5th July’2021 since taxpayers were given various relief measures in the form of waiver/reduction in interest on delayed return filing for 15 days for the return filing month June’21 for the taxpayers with the aggregate turnover up to Rs 5 crore in the wake of Covid pandemic second wave.

During this month the government has settled Rs 19,286 crore to CGST and Rs 16,939 crore to SGST from IGST as regular settlement. The revenues for June 2021 are 2 per cent higher than the GST revenues in the same month last year.

GST collection, after posting above Rs 1 lakh crore mark for eight months in a row, the collection in June’2021 dropped below Rs 1 lakh crore. The GST collection for June’2021 is related to the business transactions made during May’2021. During May’2021, most of the States/UTs were under either complete or partial lockdown due to COVID. The e-way bill data for May 2021 shows that during the month, 3.99 crore e-way bills were generated as compared to 5.88 crores in April 2021, down by more than 30 per cent.

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