Amid the adverse economic impact of the Covid-19 pandemic on the economy, the gross GST collection for the month of June has increased to Rs 90,917 crore from Rs 62,009 crore in May.
"The gross GST revenue collected in the month of June, 2020 is Rs 90,917 crore of which CGST is Rs 18,980 crore, SGST is Rs 23,970 crore, IGST is Rs 40,302 crore (including Rs 15,709 crore collected on import of goods) and Cess is Rs 7,665 crore," an official statement said.
The total revenue earned by Central Government and the State Governments after regular settlement in the month of June 2020 is Rs 32,305 crore for CGST and Rs. 35,087 crore for the SGST, the statement said.
The GST revenues for June are 91 per cent of the revenues collected in the same month last year. Last June, Rs 99,940 crore was collected as the gross GST revenue.
The revenues from import of goods in June 2020 were 71 per cent and the revenues from domestic transaction (including import of services) were 97 per cent of the revenues from these sources during the same month last year.
The government had earlier allowed a relaxed time schedule for filing of Goods and Services Tax (GST) returns due to which returns of the month of April, March as well as February also got filed during June 2020.
"The revenues during the financial year has been impacted due to COVID-19, firstly due to the economic impact of the pandemic and secondly due to the relaxations given by the Government in filing of returns and payment of taxes due to the pandemic," the statement said.
However, figures of past three months show recovery in GST revenues, it added.
The GST collections for the month of April was Rs 32,294 crore which was 28 per cent of the revenue collected during the same month last year and the GST collections for the month of May was Rs 62,009 crore which was 62 per cent of the revenue collected during the same month last year, it said.
As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.
Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.
We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.
Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.