New Delhi: The Finance Ministry informed that the gross GST revenue collected in the month of July has increased by 33 percent to Rs 1,16,393 crore. During the last month i.e. June 2021, the GST collection was less than Rs 1 lakh crore i.e. Rs 92,849 crore.
In an official statement issued on Sunday, the ministry said that of the gross GST revenue collected, Central GST is Rs 22,197 crore, State GST is Rs 28,541 crore, Integrated GST is Rs 57,864 crore (including Rs 27,900 crore collected on import of goods) and The cess is Rs 7,790 crore (including Rs 815 crore collected on import of goods).
Significantly, the GST collection figure in July 2021 was 33 percent higher than the same month in July 2020 a year ago. This includes GST returns filed from July 1 to 31, IGST for the same period and cess collected on imports. for good.
During the month, revenue from imports of goods was 36 per cent higher and revenue from domestic transactions (including import of services) was 32 per cent higher than revenue from these sources during the corresponding month of the previous year.
The Central Government in a release issued said that the GST collection, after posting above Rs. 1 lakh crore figure for eight consecutive months, down from Rs. 1 lakh crore in June 2021 as collection during the month of June 2021 mainly related to the month of May 2021 and during May 2021, most of the States/UTs were completely or partially closed due to COVID .
With the easing of COVID restrictions, the GST collection for July 2021 has again crossed Rs 1 lakh crore, which clearly indicates that the economy is recovering rapidly. The Union Finance Ministry said that strong GST revenue is likely to continue in the coming months as well.
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