Rs. 90,917 crore gross GST revenue collected in the month of June

Rs. 90,917 crore gross GST revenue collected in the month of June
CHANDIGARH–The gross GST revenue collected in the month of June 2020 is Rs. 90,917 crore of which CGST is Rs. 18,980 crore, SGST is Rs. 23,970 crore, IGST is Rs. 40,302crore (including Rs. 15,709crore collected on import of goods) and Cess is Rs.7,665 crore (including Rs. 607crore collected on import of goods).
The government has settled Rs. 13,325crore to CGST and Rs.
11,117crore 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 2020 is Rs. 32,305 crore for CGST and Rs. 35,087 crore for the SGST.
                  The revenues for the month are 91 per cent 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
domestic transactions (including import of services) were 97 percent of the revenues from these sources during the same month last year. During the month of June, returns of February, March, and April
2020 has also been filed in addition to some returns of May 2020 since the Government has allowed a relaxed time schedule for the filing of GST returns. Some returns of May 2020, which would have otherwise got filed in June 2020, will get filed during the first few days of July 2020.
                    The revenues during the financial year have been impacted due to COVID-19, firstly due to the economic impact of the pandemic and secondly due to the relaxations are given by the Government
in the filing of returns and payment of taxes due to the pandemic. However, figures of the past three months show recovery in GST revenues.
The GST collections for the month of April was Rs. 32,294 crore which was 28 percent of the revenue collected during the same month last year and the GST collections for the month of May was Rs. 62,009 crore which was 62%of the revenue collected during the same month last year.
The GST collections for the first quarter of the year is 59%of the revenue collected during the same quarter last year. However, a large number of taxpayers still have time to file their return for the month
of May 2020
The chart shows trends in monthly gross GST revenues during the current year. The table shows the state-wise figures of GST collected in each State during the month of June, 2020
as compared to June 2019 and for the full year.
By YS.Rana: 

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SK Vyas

SK Vyas

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