GST collections in June fall below Rs1 lakh crore for first time after 8 months

in gst •  3 years ago 

Of this, CGST stands at Rs 16,424 crore, SGST at Rs 20,397 crore, IGST at Rs 49,079 crore including Rs 25,762 crore collected on goods imports. the entire cess collected was Rs 6,949 crore including Rs 809 crore collected on goods imports.

“The above figure includes GST collection from domestic transactions between June 5 to July 5, 2021, since taxpayers got various relief measures within the sort of waiver/reduction in interest on delayed return filing for 15 days for the return filing month summer solstice for the taxpayers with the mixture turnover up to Rs. 5 crores within the wake of covid pandemic second wave,” said the govt during a handout.

The government also indicated that it settled Rs 19,286 crore to CGST and Rs 16,939 crore to SGST from IGST as regular settlement.

GST COLLECTION FALLS BELOW RS 1 LAKH CRORE
It is the second straight month when GST collections have dropped, and therefore the first time in eight months when revenue has fallen below Rs 1 lakh crore.
Read more at https://www.climbstreet.com/gst-collections-in-june-fall-below-rs1-lakh-crore-for-first-time-after-8-months/

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