New Delhi: The gross Goods and Services Tax (GST) revenue collected in the month of July 2020, is recorded at Rs 87,422 crore as against Rs 1,02,082 crore in July 2019.
July's GST collections included CGST at Rs 16,147 crore, SGST at Rs 21,418 crore, IGST was reported to be Rs 42,592 crore (including Rs 20,324 crore collected on import of goods), while Cess was Rs 7,265 crore (including Rs 807 crore collected on import of goods).
The government has also settled Rs 23,320 crore to CGST and Rs 18,838 crore to SGST from IGST as regular settlement.
The total revenue earned by the Central and State Governments after regular settlement in the month of July 2020 stands at Rs 39,467 crore for CGST and Rs 40,256 crore for the SGST.
The chart below shows trends in monthly gross GST revenues in 2020. The table shows the state-wise figures of GST collected in each State during the month of July 2020 as compared to July 2019 and for the full year.
The revenues for the month are 86% of the GST revenues in the same month in 2019.
During July, the revenues from import of goods were 84% and the revenues from the domestic transaction (including import of services) were 96% of the revenues from these sources during July 2019.
The revenues for June were higher than July, however, in June, 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.
Notably, the taxpayers with turnover less than Rs 5 crore continue to enjoy relaxation in the filing of returns till September 2020.