GST collections lower at Rs 87,422 cr in July

NEW DELHI, Aug 1: The country’s GST collections declined to Rs 87,422 crore in July from Rs 90,917 crore in the previous month, a Finance Ministry statement said today.The July collections, however, are higher than Rs 62,009 crore Goods and Services Tax (GST) mopped up in May and Rs 32,294 crore in April.Year-on-year, the July 2020 collections are 86 per cent of the revenues mopped up in the same month last year. In July 2019, the GST revenue was over Rs 1.02 lakh crore.”The gross GST revenue collected in the month of July 2020 is Rs 87,422 crore, of which CGST is Rs 16,147 crore, SGST is Rs 21,418 crore, IGST is Rs 42,592 crore (including Rs 20,324 crore collected on import of goods) and cess is Rs 7,265 crore,” the statement said. During the month, GST revenues of all major States were down in the range of 15-20 per cent over July 2019.The Ministry further said although the June collections were higher than that in July, however, it is important to note that during the previous month, a large number of taxpayers also paid taxes pertaining to February, March and April 2020 on account of the relief provided due to COVID-19. (PTI)