GST Collections Touched ₹ 1.16 Lakh Crore In July 2021…
GST revenue for the month of July stood at ₹ 1,16,393 crore a 33% increase over the same month a year ago, the Finance Ministry said on Sunday.
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The gross GST revenue collected in the month of July 2021 is ₹ 1,16,393 crore of which CGST is ₹ 22,197 crore, SGST is ₹ 28,541 crore, IGST is ₹ 57,864 crore (including ₹ 27,900 crores collected on import of goods) and Cess is ₹ 7,790 crore (including ₹ 815 Crores collected on import of goods).
“GST collection… dropped below Rs 1 lakh crore in June 2021 as the collections during the month of June 2021 predominantly related to the month of May 2021; and during May 2021, most of the states/UTs were under either complete or partial lockdown due to COVID.
With the easing out of COVID restrictions, GST collection for July 2021 has again crossed Rs 1 lakh crore, which clearly indicates that the economy is recovering at a fast pace. The robust GST revenues are likely to continue in the coming months too,” the ministry said in a statement.