economy
Why GST collections in June fell
Jul 08, 03:07

Goods and Service Tax (GST) collections for June 2021 fell to Rs 92,849 crore from Rs 1.02 lakh crore in May and a record Rs 1.41 lakh crore in April. This is the lowest in 10 months and the first time in nine months that monthly GST collections fell below Rs 1 lakh crore. Per Finance Ministry, June numbers reflect transactions from May, when the Covid second wave peaked in India. “GST collection for June is related to business transactions made during May. During May, most of the States/UTs were under either complete or partial lockdown due to COVID," the ministry said. Note that only 3.99 crore e-way bills were generated in May 2021, down over 30% from 5.88 crore in April.

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