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GST Collection for April to August 2020 Lower Than Last Year

In April and August of the current year, the Goods and Service Tax GST revenue sees a sharp decline of 30.4% in comparison to the last year.

April to August 2020 GST Collection

On September 14 the centre states that around Rs 2.72 lakh crore was the GST revenue between April and August 2020-21, and that was 3.90 lakh crore in the last year.

In the period the 5 states and union territories have seen a 40% decline year on year in their GST revenue. Uttarakhand GST revenue was Goa -43.4%,  at -43.6%, Daman and Diu at -44.0%, Jharkhand at -40.9%, and -40.6%, Mizoram.

UT State Decline in Percentage

S.Jothimani the congress supporter has explained the reasons for the GST revenue fall some of these reasons are the decline in state wise GST revenue of states and state-wise details of amounts disbursed as compensation of GST till date.

The Finance Ministry announced the budgeted measures for GST revenue in FY21. “were projected on the basis of an assumption of higher growth of GDP; however as per CSO, MoS&PI press release [on August 31, 2020], the Nominal GDP for Q1 (April-June), 2020-21 shows a contraction of 22.6 percent which is one of the major reason for a revenue shortfall in GST”.

More reason for the lower collection of GST is lockdown and related restrictions taken since march between the coronavirus, late fee, extending GST return filing Get to know the online procedure of filing GST return in India. Also, we provide each and every GST form according to the taxpayers’ category. Read more without payment of interest, the outcome of economic activities.

In between the Covid-19 Pandemic, an 18-day monsoon session of parliament has started today. Both the 2 houses are conducting shifts in time. Expecting on 1st day the Rajya Sabha will start in morning shift from 9 am to 1 pm whereas the Lok Sabha shift from 3 pm to 7 pm.

Disclaimer:- "All the information given is from credible and authentic resources and has been published after moderation. Any change in detail or information other than fact must be considered a human error. The blog we write is to provide updated information. You can raise any query on matters related to blog content. Also, note that we don’t provide any type of consultancy so we are sorry for being unable to reply to consultancy queries. Also, we do mention that our replies are solely on a practical basis and we advise you to cross verify with professional authorities for a fact check."

Published by Arpit Kulshrestha
Arpit Kulshrestha seeks higher interests in financial services, taxation, GST, I-T, etc. Writes articles with depth knowledge and is extensive for the same. The resources provide effective articles for the products of SAG infotech which provides taxation and IT software. Writing from observations and researching makes his articles virtuous. View more posts
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