Big drop in GST collection in June, came below Rs 1 lakh crore after eight months

There has been a big decline in the GST collection in the month of June. After almost eight months, the GST collection has gone below Rs 1 lakh crore. The GST collection in the month of June stood at Rs 92,849 crore. It is 2 percent more than last year in June (2020) but this year it is less than the month of May. The GST collection in the month of May was Rs 1.02 lakh crore.

GST collection was above Rs 1 lakh crore for eight consecutive months

According to the data of the Finance Ministry, the GST revenue in June, 2021 was Rs 92,849 crore. In this, the share of Central GST was Rs 16,424 crore, while that of State GST was Rs 20,397 crore. At the same time, the Integrated GST collection stood at Rs 49,079 crore (includes GST of Rs 20,397 crore collected on imported goods). With this, a cess of Rs 6,949 crore was collected. For the last eight months, the GST collection every month was exceeding one lakh crore rupees. In May, GST of Rs 1.02 lakh crore was collected. But in June it came down to Rs 92,849 crore.

Worst condition of women of low income family due to Corona, big disclosure in survey conducted in 10 states

Impact of business activities slowed down due to lockdown restrictions

According to the ministry, the GST collection for June has come from the business of the month of May. In May, lockdown and restrictions were imposed in most states and union territories to control the second wave of COVID. This reduced economic activity. This has had an impact on GST collections. Last month, there was a decline in manufacturing in industrialized states like Maharashtra, Gujarat, Karnataka, Tamil Nadu, Delhi. Many of the country’s big automobile companies had stopped their production. These include companies like Maruti, Hero MotoCorp and Mahindra & Mahindra. Although now the pace of manufacturing has caught on in these companies.