GST revenue collection in July touches 1,16,393 crore; 33% more than 2020

“The gross GST revenue collected in the month of July 2021 is 1,16,393 crore of which CGST is 22,197 crore, SGST is 28,541 crore, IGST is 57,864 crore (including 27,900 crore collected on import of goods) and cess is 7,790 crore (including 815 crore collected on import of goods),” an official statement issued by the ministry said.
Prime Minister Narendra Modi and Union finance minister Nirmala Sitharaman. (File photo)
Prime Minister Narendra Modi and Union finance minister Nirmala Sitharaman. (File photo)
Updated on Aug 01, 2021 01:09 PM IST
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By hindustantimes.com | Written by Harshit Sabarwal | Edited by Avik Roy, New Delhi

The Union finance ministry said on Sunday that the gross Goods and Services Tax (GST) revenue collected in July has been 1,16,393 crore, 33% higher than those generated in the same month in 2020.

“The gross GST revenue collected in the month of July 2021 is 1,16,393 crore of which CGST is 22,197 crore, SGST is 28,541 crore, IGST is 57,864 crore (including 27,900 crore collected on import of goods) and cess is 7,790 crore (including 815 crore collected on import of goods),” an official statement issued by the ministry said.

The statement added that the figures include GST collection received from GSTR-3B returns which were filed between July 1 and July 31 this year as well as IGST and cess collected from imports for the same time period.

“The GST collection for the returns filed between 1st July and 5th July 2021 of 4,937 crore had also been included in the GST collection in the press note for the month of June 2021 since taxpayers were given various relief measures in the form of waiver/reduction in interest on delayed return filing for 15 days for the return filing month June 21 for the taxpayers with the aggregate turnover up to 5 crore in the wake of Covid pandemic second wave,” the finance ministry statement further said.

As far as statewise figures of the GST during July this year as compared to July 2020 is concerned, Jharkhand and Odisha saw a growth of 54%, the national capital Delhi and Jammu and Kashmir saw a growth of 45% while Maharashtra saw a growth of 51%.

The GST collection, after posting above 1 lakh crore mark for eight months in a row, dropped below this limit in June 2021 as collections during the month of June predominantly related to the month of May and during May, most of the states and Union territories were under either complete or partial lock down due to the coronavirus disease (Covid-19) pandemic.

However, with the easing and relaxation of Covid-19 restrictions, the GST collection for July has crossed the 1 lakh crore mark, indicating the Indian economy is recovering at a fast pace.



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Sunday, October 24, 2021