GST Revenue Drops Below Rs 1 Lakh Crore in June 2021

GST collection had remained above the Rs 1 lakh crore mark for eight months in a row

GST Revenue Drops Below Rs 1 Lakh Crore in June 2021
GST Revenue Drops Below Rs 1 Lakh Crore in June 2021
PTI - 06 July 2021

GST revenue for the month of June stood at Rs 92,849 crore, 2 per cent higher than Rs 90,917 crore collected in June 2020, the Finance Ministry said on Tuesday.

Out of Rs 92,849 crore, the Central GST is Rs 16,424 crore, State GST Rs 20,397, Integrated GST 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), the ministry said.

GST collection had remained above the Rs 1 lakh crore mark for eight months in a row and was recorded at Rs 1.02 lakh crore in May.

However, the collection in June 2021 dropped below Rs 1 lakh crore.

"The GST collection for June 2021 is related to the business transactions made during May 2021. During May 2021, most of the states/UTs were under either complete or partial lockdown due to Covid," the ministry added.

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