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If the experts are to be believed, as the e-way bill generation is increasing it will further lead to better GST collections during August.
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As per the data from Goods And Services Tax Network (GSTN), more than 64.1 million e-way bills were generated in July, making it the highest after a peak of 71.2 million in April.
Indicating a significant recovery in the business activity, e-way bills clocked 17.4 percent higher in July as compared to June when 54.6 million were issued, read GSTN data.
The transportation of goods of more than Rs 50,000 is the necessary requirement for E-way bills. Now, as almost every Indian state is giving the relaxations in COVID-19 protocols, business activity has improved in July compared to previous months during the deadly second wave. July numbers, which incorporate 24.8 million for inter-state and stands at 39.2 million for intrastate movement of goods, are the second-highest in a year, since June 2020.
Also, the daily average which is 2.06 million in the month of July is also amongst the highest in a year, second to April which was at 2.37 million. The daily average in May was 1.28 million compared to June which was 1.82 million. The E-way bill generation for May stood at 39.9 million while June stood at 54.6 million.
If the experts are to be believed, as the e-way bill generation is increasing it will further lead to better GST collections during August.
The Ministry of Finance in a statement said, "The Goods and Service Tax (GST) revenue collected in the month of July 2021 is Rs 1,16,393 crore of which 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)."