: GST collection brings cheers; touches Rs 90,917 cr #FinanceIndia #StockMarketNEWS GST collection brings cheers; touches Rs 90,917 cr New Delhi, Jul 1 (KNN) The gross Goods and Services Tax (GST) revenue

@StockMarketNEWS Thu 02 Jul, 2020

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GST collection brings cheers; touches Rs 90,917 cr #FinanceIndia #StockMarketNEWS
GST collection brings cheers; touches Rs 90,917 cr New Delhi, Jul 1 (KNN) The gross Goods and Services Tax (GST) revenue collected in the month of June stood at Rs 90,917 crore.

The collections are higher than those recorded in April and May – the peak months of lockdown due to the Covid 19 pandemic – where GST collection for April was Rs 32,294 crore and Rs 62,009 crore for May.

"The revenues during the financial year has been impacted due to COVID-19, firstly due to the economic impact of the pandemic and secondly due to the relaxations given by the Government in filing of returns and payment of taxes due to the pandemic," the government said.

According to data released by the government, June GST collection figure of Rs 90,917 include CGST of Rs 18,980 crore, SGST of Rs 23,970 crore, IGST of Rs 40,302 crore (including Rs 15,709 crore collected on import of goods) and Cess of Rs 7,665 crore (including Rs 607 crore collected on import of goods).

“Since government has allowed a relaxed time schedule for filing of GST returns, returns of the month of April, March as well as some returns of February got filed during June, 2020 and some returns of May, 2020, which would have otherwise got filed in June, will get filed during first few days of July,” the department said.

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