GST June collection below Rs 1 lakh cr; Impact of lockdowns visible

Pic courtesy: CBIC

New Delhi, July 7 (2021) India’s gross GST revenue collection in June 2021 was Rs 92,849 crore . The revenue for the month of June 2021 is 2% higher than the GST revenues in the same month last year, according to an official statement released on July 6. But the GST for June dropped below Rs 1 lakh crore , after staying above this threshold for eight months in a row, courtesy lockdowns in several states.

” The GST collection for June’2021 is related to the business transactions made during May’2021. During May’2021, most of the States/UTs were under either complete or partial lock down due to COVID. 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%”, a Finance Ministry statement said.

However, it said, with reduction in caseload and easing of lockdowns, the e-way bills generated during June 2021 is 5.5 crore which indicates recovery of trade and business. The daily average generation of e-way bill for the first two weeks of April 2021 was 20 lakh, which came down to 16 lakh in last week of April 2021 and further to 12 lakh in the two weeks between 9th to 22nd May. Thereafter, the average generation of e-way bills has been increasing and has reached again to 20 lakh level since week beginning 20th June. Therefore, it is expected that while the GST revenues have dipped during the month of June, the revenues will see an increase again from July 2021 onwards, the statement added.

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