Covid-19 impact: July GST collections down 14.6% YoY to Rs 87,422 cr

GST collections in July were 4 per cent lower than June 2020 as well

The goods and services tax (GST) collections in July stood lower than the previous month and were 86 per cent of the levels seen in the same month last year as economic activity limps back to normalcy with the unlocking process picking pace. The mop up remained well under the Rs 1 trillion mark for the fifth straight month with the economy reeling under the pandemic shock.

The GST collections stood at Rs 87,422 crore in July compared to Rs 90,917 crore in June, data released by the ministry of finance showed on Saturday. The collections are in fact, 14.6