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Last Updated : Jul 01, 2020 01:47 PM IST | Source: Moneycontrol.com

GST collection for June at Rs 90,917 crore; total for Q1 at 59% of last year revenues

CGST was at Rs 18,980 crore of the June collections, while SGST was Rs 23,970 crore and IGST was Rs 40,302 crore (including Rs 15,709 crore collected on import of goods).

The gross GST revenue collected in the month of June stood at Rs 90,917 crore. The collection for the April-June quarter was at 59 percent of the revenue in the same period last year, the Finance Ministry said.

The government had collected Rs 32,294 crore in GST for April and Rs 62,009 crore in May.

CGST was at Rs 18,980 crore of the June collections, while SGST was Rs 23,970 crore and IGST was Rs 40,302 crore (including Rs 15,709 crore collected on import of goods).

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Cess collection was at Rs 7,665 crore (including ₹ 607 crore collected on import of goods).

"While a decline in GST revenues was expected due to business activities coming to a near standstill, these revenue numbers indicate that a revival is underway and collections will improve in the coming months," said MS Mani, partner, Deloitte India.

The government settled Rs 13,325 crore to CGST and Rs 11,117 crore to SGST from IGST as regular settlement.

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

On Q1 collections coming in at 59 percent of revenues in the year-ago period, Mani said, “The fact that the collections in Q1 are 59 percent of that in the similar period last year while being indicative of the decline in economic activities during Q1 also indicates that a gradual revival is underway in some sectors."

As the government had extended the time period for filing of GST returns, returns for the months of April, March as well as some returns of February was filed in June and some returns of May, which would have otherwise got filed in June, would get filed during first few days of July.

The revenues during the financial year have been impacted due to COVID-19, due to the lockdown and also because of the relaxations in the filing of returns and payment of taxes due to the pandemic.

"The revenues for June were 91 percent of the GST revenues in the same month last year. During the month, the revenues from import of goods were 71 percent and the revenues from the domestic transaction (including import of services) were 97 percent of the revenues from these sources during the same month last year," the government said in a release.
First Published on Jul 1, 2020 12:37 pm
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