Finance Ministry on Tuesday reported collection from Goods & Services Tax (GST) in June at ₹92,849 crore. This is for the first time after eight successive months, collection has come down below ₹1lakh crore.
However, the Ministry expects collection in July would be better.
“The GST collection for June is related to the business transactions made during May. During May, most of the States/UTs were under either complete or partial lock down due to COVID. The e-way bill data for the month of May shows that during the month, 3.99 crore e-way bills were generated as compared to 5.88 crore in April, down by more than 30 per cent,” the Ministry said in a statement.
According to the Ministry, however, with reduction in the caseload and easing of lockdowns, the e-way bills generated during June are 5.5 crore indicating recovery of trade and business. The daily average generation of e-way bill for the first two weeks of April was 20 lakh, which came down to 16 lakh in last week of April and further to 12 lakh in the two weeks between May 9-22. Thereafter, the average generation of e-way bills has been increasing and has reached again to 20 lakh level since week beginning June 20th Therefore, “it is expected that while the GST revenues have dipped during June, the revenues will see an increase again from July 2021 onwards,” the Ministry said.