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2% Hike GST Revenue Collection in June 2021 Compared to June 2020

GST Revenue Collection in June 2021

Rs 92849 cr is the gross GST revenue collected in June 2021 for which CGST is ₹16,424 crore, SGST is ₹20,397, IGST is ₹49,079 crore (including ₹25,762 crores collected on import of goods) and Cess is ₹6,949 crore (including ₹809 crores collected on import of goods).

The mentioned figure states that GST collection through domestic transactions between 5th June to 5th July’2021 as from the assessee who was provided several measures in the form of waiver/reduction in interest on delayed return filing for 15 days for the return filing month June’21 for the assessee with the average turnover of Rs. 5 crores in due to the 2nd covid wave.

In this month the government has been set out Rs 19,286 crore to CGST and ₹ 16,939 crores to SGST from IGST as regular settlement. The revenues for the month of June 2021 are 2% more as compare to the GST revenues in the same month last year.

Post to publishing Rs 1 lakh crore mark of GST for continuous 8 months in June 2021 has declined below Rs 1 lakh crore. The collection made for the GST in June 2021 is in regard to the business transactions furnished in May 2021. In May 2021 the majority of the states and the union territories were under either complete or partial lockdown due to COVID-19. The e-way bill data for the month of May 2021 reveals that during the month, 3.99 crore e-way bills were created with respect to 5.88 crores in the month of April 2021, down by higher than 30%.

But through the reduction in caseload and the easing of the lockdowns, the e-way bills made in June 2021 is 5.5 cr which shows that the recovery of the trade and the business. The daily average generation of GST e-way bills Get to know about GST E Way bill and its generating process through online and SMS in a simple manner. Also, we have attached original screenshots of official E way bill portal for better understanding for the 1st two weeks of April 2021 was 20 lakh, which came down to 16 lakh in the last week of April 2021 and moreover to 12 lakh in the two weeks between 9th to 22nd May. but the average e-way generation of the e-way bills is raising and is reached again to 20 lakh level since from the starting week of 20th June. hence it is urged that while GST revenues have been dropped in the month of June the revenues shall see a rise again from July 2021.

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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