The ministry of finance has informed that the gross GST revenue collected in the month of June’ 2021 is Rs 92,849 crore, which is 2 percent higher than the GST revenues in the same month last year.
Out of Rs 92,849 crore, CGST is Rs 16,424 crore, SGST is Rs 20,397, IGST is Rs 49,079 crore (including Rs 25,762 crore collected on import of goods) and Cess is Rs 6,949 crore (including Rs 809 crore collected on import of goods).
During this month the government has settled Rs 19,286 crore to CGST and Rs 16,939 crore to SGST from IGST as regular settlement.
However, the collected revenue includes GST collection from domestic transactions between 5th June to 5th July, 2021 since taxpayers were given various relief measures in the form of 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 Covid pandemic second wave.
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Knowledge Source:
GST Has Become ‘Colonial Taxation System’: CAIT