GST collection 41 per cent less in first quarter, exceeds Rs 90,000 crore in June
GST collection data for the first quarter of the current fiscal year decreased 41 per cent than the revenue collected during the same quarter last year, according to the data released by the Finance Ministry on Wednesday. In the month of June 2020, the GST collection stood at Rs 90,000 crore, 9 per cent less than the collection in June 2019.
The Finance Minister said that the GST collection in June was Rs 90,917 crore, Rs 62,009 crore in May and Rs 32,294 crore in April. However, this figure could change as a large number of taxpayers are yet to file their return for the month of May 2020.
"The GST collection for the first quarter of the year is 41 per cent less than 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 statement said.
Of the gross Rs 90,917 crore GST revenue collected in June, CGST is Rs 18,980 crore, SGST is Rs 23,970 crore, IGST is Rs 40,302 crore, including Rs 15,709 crore collected on import of goods and Cess is Rs 7,665 crore, including Rs 607 crore collected on import of goods.
Posted By: Shashikant Sharma