GST Rs ₹ 1,16,393 crore gross of GST revenue collected in July
Total GST revenue collected in a month July 2021 is INR 1,16,393 crore Of which CGST is $22197 croreAnd SGST is ₹ 28,541 croreAnd IGST is Rs 57864 crore (Including 27900 crores The sum when importing goods) and taxes are 7,790 crores (Including 815 crores The figure above includes GST collection received from GSTR-3B returns filed from July 1, 2021 to July 31, 2021 as well as GST collected from imports for the same period.
GST package for revenue from July 1 to July 5, 2021 amounting to Rs 4,937 crore was also included in the GST package in the June 2021 press note as taxpayers have been given various relief measures in the form of interest waiver/reduction Delayed filing 15-day return for the month of June 21 return for taxpayers with a total turnover of Rs. Rs 5 crore in the wake of the second wave of COVID-19.
The government settled ₹28,087 crore to CGST and ₹24,100 crore to SGST from IGST as a regular settlement. The total revenue of the Center and States after regular settlement in July 2021 is INR 50,284 crore for CGST and ₹ 52641 crore for SGST.
revenue for the month July 2021 33% higher of GST returns in the same month last year. During the month, revenue from importing goods was 36% higher, and revenue from domestic transactions (including importing services) was 32% higher than revenue from these sources during the same month last year.
GST collection, after posting above Rs. 1 lakh crore mark for eight consecutive months, fell less than Rs. 1 lakh crores in June 2021 as groups during June 2021 were mainly related to May 2021 and during May 2021, most states/UTs were either under full or partial lockdown due to COVID. With the easing of COVID restrictions, GST collection for July 2021 once again exceeded ₹1 million crore, clearly indicating that the economy is recovering quickly, and strong GST returns are likely to continue in the coming months as well.