In June GST collection falls below Rs 1 lakh-crore mark

For the first time in three months, the total Goods and Services Tax (GST) revenue collections have gone down below Rs 1 lakh-crore mark.

GST

The collection for May which is collected in June stood at Rs 99,939 crore against Rs 1,00,289 crore in April. That’s a decline of 0.3 percent over April and an increase of nearly 4.5 percent over the year-ago period. The revenue in June, 2019 is 1.86 percent higher than the monthly average of GST revenue in FY 2018-19 ( Rs 98,114 crore).

The number of GST returns filed during the month has improved over the previous month. The total number of GSTR-3B returns filed for May by June 30 was 74.38 lakh compared with 72.45 lakh filed for April, and 72.13 lakh for March.

Under various heads the break-up of tax collected:

Central GST: Rs 18,366 crore.

State GST: Rs 25,343 crore

Integrated GST: Rs 47,772 crore (including Rs 21,980 crore collected on imports)

Cess: Rs 8,457 crore (including Rs 876 crore collected on imports).

The Banking & Finance Post is an initiative of Elets Technomedia Pvt Ltd, existing since 2003.
Now, Elets' YouTube channel, a treasure of premier innovation-oriented knowledge-conferences and awards, is also active. To Subscribe Free, Click Here.

Get a chance to meet the Who's who of the BFSI industry. Join Us for 3rd BFSI Cloud & Security Summit, Mumbai and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram & Pinterest.