In July this year, GST collection decreased to Rs 87,422 crore as compared to June. The government earned Rs 90,917 crore as Goods and Services Tax (GST) in June. However, this year, there is more GST collection in July than in April and May. The government raised Rs 62,009 crore through this indirect tax in May and Rs 32,294 crore in April.
The Finance Ministry has issued a statement saying, “The total GST collection in July 2020 stood at Rs 87,422 crore. Of these, the government raised Rs 16,147 crore through CGST, Rs 21,418 crore through SGST and Rs 42,592 crore through IGST. Also, the government received Rs 7,265 crore through cess. “
According to these figures, the government has raised about 86 per cent in July this year through GST compared to last year. The Ministry has also stated that in June there was more revenue collection than in July but it is noteworthy that in the previous month, a large number of taxpayers also paid the taxes of February, March and April, 2020. It is noteworthy that due to Kovid-19, taxpayers were relaxed in different timelines.
Let us state here that taxpayers with a turnover of less than Rs 5 crore can continue to enjoy the relief in filing returns till September 2020.