GST Collections Fall Under Rs 1 lakh Crore For First Time In Nine Months

The gross GST revenue collected in the month of June 2021 stood at Rs 92,849 crore of which CGST stood at Rs 16,424 crore, SGST stood at Rs 20,397, IGST came at Rs 49,079 crore (including Rs 25,762 crore collected on import of goods) and Cess stood at Rs 6,949 crore (including Rs 809 crore collected on import of goods). The revenues for the month of June 2021 are 2% higher than the GST revenues in the same month last year. After posting above Rs 1 lakh crore mark for eight months in a row, the GST 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 lock down due to COVID. The e-way bill data for the month of May 2021 shows that during the month, 3.99 crore e-way bills were generated as compared to 5.88 crore in the month of April 2021, down by more than 30%. During the month of June, the government said it settled Rs 19,286 crore to CGST and Rs 16,939 crore to SGST from IGST as regular settlement.

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