Home >News >India >Centre, states collect 87,422 crore in GST revenue in July

NEW DELHI: Central and state governments collected 87,422 crore as Goods and Services Tax (GST) revenue in July, down over 14% from the year-ago period.

July collections are also 3.8% lower on month but the numbers are not comparable as the payment schedule was relaxed to help companies facing a liquidity crunch.

"Revenues for the last month (June) were higher than that of 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 5 core continue to enjoy relaxation in filing returns till September 2020," the finance ministry said in a statement.

GST tax mop-up for accounts for 86% of what was collected in the same month a year ago, and as such showcases quite a significant economic recovery from the pandemic although a bit of it could be on account of pent-up demand, according to Abhishek Jain, Tax Partner, EY.

Revenue collections fell sharply in the case of Delhi, Maharashtra, Karnataka, Gujarat, and Tamil Nadu. Delhi reported a 23% year-on-year fall in revenue collection in July, while Tamil Nadu saw a 24% fall. Maharashtra reported a 17% decline and Karnataka saw revenue collection fall 15%.

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