GST Collection In June Dips Below Rs 1 Lakh Mark To Rs 92,849 Cr Due To Covid-19

The revenues for the month of June 2021 are 2% higher than the GST revenues in the same month last year.

(Representative Image/Getty)

New Delhi: The gross Goods and Services Tax (GST) collection for the month of June dipped below Rs 1 lakh mark to Rs 92,849 crore, the first dip in nine months due to the second wave of the COVID-19 pandemic.  

The gross GST revenue of Rs 92,849 crore comprises of CGST of Rs16,424 crore, SGST of Rs 20,397 crore, and IGST of Rs 49,079 crore (including Rs 25,762 crore collected on import of goods), and Cess of Rs 6,949 crore (including Rs 809 crore collected on import of goods).

The above figure includes GST collection from domestic transactions between June 5 to July 5, 2021, since 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 June’21 for the taxpayers with the aggregate turnover up to Rs 5 crore in the wake of the covid pandemic second wave, said a government statement.

This month, the government has settled Rs 19,286 crore to CGST and Rs 16,939 crore to SGST from IGST as a regular settlement.

The revenues for the month of June 2021 are 2% higher than the GST revenues in the same month last year.

 The GST collection for June’2021 is related to the business transactions made during May’2021. During May’2021, most States/UTs were either complete or partial lockdown due to COVID.

The e-way bill data for the month of May 2021 shows that 3.99 crore e-way bills were generated during the month, compared to 5.88 crore in the month of April 2021, down by more than 30%.

However, with the reduction in caseload and easing of lockdowns, the e-way bills generated during June 2021 are 5.5 crore, indicating a recovery of trade and business.

The daily average generation of e-way bill for the first two weeks of April 2021 was 20 lakh, which came down to 16 lakh in the last week of April 2021 and further to 12 lakh in the two weeks between 9th to May 22.

After that, the average generation of e-way bills has been increasing and has reached again to 20 lakh level since the week beginning June 20. Therefore, it is expected that while the GST revenues have dipped during the month of June, the revenues will see an increase again from July 2021 onwards.