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Govt’s revenue collection shows improvement as GST for July stands at Rs 1,16,393 crore

The government collected Rs 1,16,393 crore GST revenue for the month of July after it dropped below the Rs 1 lakh crore mark in June.

The revenue for July is 33% higher than the same period last year when most of the economic activity came under the impact of Covid’s first wave.

Increased revenue collection has also helped in containing the fiscal deficit in the first quarter, which came in at an eight-year low.

GST revenue had shown a consistent improvement as it remained above the Rs 1 lakh crore mark for eight months straight before dipping to Rs 92,849 crore in June as local lockdowns impacted economic activity.

For July, CGST is Rs 22,197 crore, SGST is Rs 28,541 crore, IGST is Rs 57,864 crore (including Rs 27,900 crore collected on import of goods) and Cess is Rs 7,790 crore (including Rs 815 crore collected on import of goods).

The above figure includes GST collection received from GSTR-3B returns filed between 1st July 2021 to 31st July2021 as well as IGST and cess collected from imports for the same period.

“The GST collection for the returns filed between 1st July to 5th July2021 of Rs 4,937 crore had also been included in the GST collectionin,” the press note said. for the month of June2021since 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 June21 for the taxpayers with the aggregate turnover uptoRs. 5 crore in the wake of covid pandemic second wave.

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