After falling for two straight months, the revenue collected under the Goods and Services Tax (GST) reversed the downward trend and registered a two per cent growth in July (over last month) crossing the Rs 1 lakh crore mark.
The marginal growth was mainly on account of higher collections under the integrated GST (IGST).
The total collection for July (for transactions made in June) stood at Rs 1,02,083 crore, marginally higher than Rs 99,939 crore collected in June.
While subdued collections remain a cause of concern for the government, but the slight growth this month comes as a respite as GST collections were in a downward slide since April, when they had peaked to almost Rs 1.14 lakh crore. In May, this came down to Rs 1.003 crore and finally fell below Rs 1 lakh crore in June. Last month was the first time since February that the GST collection figures had fallen below Rs 1 lakh crore.
However, compared to last year, the collections this year have shown improvement. Revenue in July, 2018 was Rs 96,483 crore and the revenue during July, 2019 reflects a growth of 5.8 per cent over that.
As per the figures released by the government on Thursday, out of Rs 1.02 lakh crore collected in July, Rs 17,912 crore was Central GST (CGST), Rs 25,008 crore was State GST (SGST) and Rs 50,612 crore was Integrated GST (IGST). Rs 8,551 crore was collected as cess. The total number of GSTR 3B returns filed in June were 75.79 lakh.