The Goods and Services Tax collection in July 2020 has fallen to Rs 87,422 crore which is lesser than both the July collections last year and the revenue collected last month.
In the previous month, the government had collected Rs 90,917 crore.
The Goods and Services Tax collection in July 2020 has fallen to Rs 87,422 crore which is lesser than both the July collections last year and the revenue collected last month. In the previous month, the government had collected Rs 90,917 crore, according to a finance ministry statement. Explaining why June collections were higher, the ministry said that during the previous month, a large number of taxpayers also paid taxes pertaining to February, March and April 2020 as the government had provided a relief period on the account of ongoing coronavirus pandemic. Further, taxpayers who have a turnover of less than Rs 5 crore also enjoy a relaxation in filing of returns till September 2020, which may have also impacted this month’s revenue.
“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,” a finance ministry statement said. The revenues collected this month are 86% of the GST revenues collected in the same month last year.
In the previous month, the government had collected Rs 90,917 crore.
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