The Ministry of Finance has informed that the gross GST revenue collected in the month of July 2021 is Rs 1,16,393 crore. Out 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).
The revenues for the month of July 2021 are 33 percent higher than the GST revenues in the same month last year. During the month, revenues from import of goods was 36 percent higher and the revenues from domestic transaction (including import of services) are 32 percent higher than the revenues from these sources during the same month last year.
It has further informed that government has settled Rs 28,087 crore to CGST and Rs 24100 crore to SGST from IGST as regular settlement. The total revenue of Centre and the States after regular settlement in the month of July’ 2021 is Rs 50284 crore for CGST and Rs 52641 crore for the SGST.
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No More GST Audit from FY 2020-21: Self Certified Return will Replace the Audit Report