GST collections fall below Rs.1 lakh crore in June

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NewDelhi : After record collections in April 2019, India’s  monthly GST revenue collection has continued to drop for the second consecutive month in June which has fallen below the Rs.1 lakh crore mark.

“Total gross GST revenue collected in the month is Rs. 99,939crore of which CGST is Rs.  18,366crore, SGST is Rs.  25,343crore, IGST is Rs. 47,772crore (including Rs.21,980crore collected on imports) and Cess is Rs. 8,457 crore (including Rs.  876crore collected on imports). The total number of GSTR 3B Returns filed for the month of May up to 30th June, 2019 is 74.38lakh” the finance ministry said in a statement.

“The Government has settled Rs.  18,169 crore to CGST and Rs.  13,613 crore to SGST from IGST as regular settlement. The total revenue earned by Central Government and the State Governments after regular settlement in the month of June, 2019 is Rs.36,535 crore for CGST and Rs.  38,956 crore for the SGST” it added.

Revenue in June, 2018 was Rs.  95,610 crore and the revenue during June, 2019 is a growth of 4.52% over the revenue in the same month last year. The revenue in June, 2019 is 1.86% higher than the monthly average of GST revenue in FY 2018-19 (₹98,114 crore).

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