GST collection in June (for May) fell to Rs 99,939 crore as against Rs 1 lakh crore in the previous month, official data showed. The GST revenue collection for June stood at Rs 99,939 crore as it slipped below Rs 1 lakh crore for the first time since February this year. The February collection reported on March 1, was at Rs 97,247 crore. According to the data, while the CGST revenue collection for June was recorded at Rs 18,366 crore, the SGST collection was at Rs 25,343 crore. The IGST collection for the month was at Rs 47,772 crore. The GST cess collection for June was at Rs 8,457 crore.
According to budget estimates for FY20, the average monthly GST collection was pegged at Rs 1.14 lakh crore. The collection breached the Rs 1-lakh crore mark for three consecutive months till May for the first time since GST was implemented.
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Nearly Rs 1.14 lakh crore needs to be collected every month in this fiscal year by the Centre and states companies, as per the 14% notional GST revenue growth for states that the central government is committed to protect.
“The revenue in June, 2018 was Rs 95,610 crore and the revenue during June, 2019 is a growth of 4.52% over the revenue in the same month last year. The revenue in June, 2019 is 1.86% higher than the monthly average of GST revenue in FY 2018-19 (₹ 98,114 crore),” Ministry of Finance tweeted.
“Total revenue earned by Central Government and the State Governments after regular settlement in the month of June, 2019 is ₹ 36,535 crore for CGST and ₹ 38,956 crore for the SGST,” it added.
Meanwhile, an analysis of data released by Goods and Services Tax Network (GSTN) showed that while on an average, 50 per cent of the registered taxpayers filed GSTR-3B within due date in July 2017, the number increased to around 85 per cent as on June 23 this year.