Thu. Mar 28th, 2024
GST Collection

On Wednesday, the department of revenue revealed that, Goods and service tax (GST) collections for the month of June 2020 attained Rs 90,917 crore at gross levels, 9% lower than the exact month previous year. The summations are higher than those tracked in April and May – the peak months of lockdown due to the Coronavirus pandemic – wherein the GST collection was Rs 32,294 crore and Rs 62,009 crore for April and May respectively.

Nonetheless, for both of the months, the collections were lower than those in 2019. Collections in April were down 72% on-year and 38% down on-year in May.

The government announced GST collection for the first quarter of the year was 41% less than the revenue collected during the same quarter last year, but a large number of taxpayers still have time to file their return for the month of May, 2020 till early this month.

“Since government has allowed an easy to go process for filing of GST returns, thus the returns of the month of April, March and also some returns of February got filed during June, 2020. Also, some returns of May, 2020, which would have otherwise got filed in June, will get filed during first few days of July,” the department confirmed.

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