GST Revenue collection for July 2020

Rs. 87,422 crore gross GST revenue collected in  July

The gross GST revenue collected in the month of July, 2020 is Rs. 87,422 crore of which CGST is Rs. 16,147crore, SGST is Rs. 21,418 crore, IGST is Rs. 42,592 crore (including Rs. 20,324 crore collected on import of goods) and Cess is Rs. 7,265 crore (including Rs. 807crore collected on import of goods).

The government has settled Rs. 23,320 crore to CGST and Rs. 18,838 crore to SGST from IGST as regular settlement.The total revenue earned by Central Government and the State Governments after regular settlement in the month of July,2020 is Rs. 39,467 crore for CGST and Rs. 40,256 crore for the SGST.

The revenues for the month are 86% of the GST revenues in the same month last year. During the month, the revenues from import of goods were 84%and the revenues from domestic transaction (including import of services) were 96% of the revenues from these sources during the same month last year.

The revenues for the last month were higher than the current month. However, it is important to note that during the previous month, a large number of taxpayers also paid taxes pertaining to February, March and April 2020 on account of the relief provided due to COVID-19. It may also be noted that the taxpayers with turnover less than Rs. 5 core continue to enjoy relaxation in filing of returns till September 2020.