GST collection slips below 1 lakh crore mark for the first time in 8 months
New Delhi : Call it COVID second wave impact on economy, the GST collection for June 2021, slipped below 1 lakh crores for the first time in 8 months.
The finance ministry announced that for June 2021, the GST collection was Rs 92,849 crore. The last time it happened in August 2020 when GST collection was at Rs 95,480 crore.
The June 2021 collection is the lowest in ten months, since August 2020.
"The GST collection for June 2021 is related to the business transactions made during May 2021. During May, most of the States/UTs were under either complete or partial lockdown due to COVID," the Finance Ministry said in a statement.
"The e-way bill data for the month of May 2021 shows that during the month, 3.99 crore e-way bills were generated as compared to 5.88 crore in the month of April 2021, down by more than 30 percent," it said.
The June figure compares to the GST collection of Rs 1.02 lakh crore in May. In April, GST collections came in at Rs 1.41 lakh crore, the highest ever since the introduction of the nationwide tax.
In June, Central GST collection was Rs 16,424 crore, State GST was Rs 20,397, Integrated GST was Rs 49,079 crore, while cess was Rs 6,949 crore.