GST revenue collection in June at Rs 90,917 crore

In some good news for the economy, the gross GST revenue collection in June stood at Rs 90,917 crore, up from Rs 62,009 crore in May and Rs 32,294 crore in April.

A break up of data showed that the Central GST for June stood at Rs 18,980 crore, while the State GST was Rs 23,970 crore.

“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 government also addressed a bone of contention with the states by settling Rs 11,117 crore to State GST from IGST.

The total revenue earned by central government and the state governments after regular settlement in June stood at Rs 32,305 crore for CGST and Rs 35,087 crore for the SGST.

During the month, the revenues from import of goods came down by 29 per cent and the revenues from domestic transaction, including import of services, saw a fall of 3 per cent.

However, since the government had allowed a relaxed time schedule for filing of GST returns, returns of April, March as well as some returns of February got filed during June 2020 and some returns of May, which would have otherwise been filed in June, will now be filed in July.

GST COLLECTIONS FOR MONTHS OF APRIL, MAY

The GST collections for the month of April was Rs 32,294 crore which was 72{b1ee4ac4d8d7b8e1af61a560a11ca52574b8103b547ccac8037ce0cdf9e7ba58} less than the revenue collected during the time last year. The GST collections for May was Rs 62,009 crore which was 38{b1ee4ac4d8d7b8e1af61a560a11ca52574b8103b547ccac8037ce0cdf9e7ba58} less than the revenue collected during the same month last year.

The GST collections for the first quarter of the year was 41 per cent less than the revenue collected during the same quarter last year.

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