GST Collection dips below 1 lakh crore in June

GST - The Goods and Services Tax was rolled out two years ago on this very day. 1st July 2019 marks the second anniversary of GST reform. But whether country is getting what expected from GST and are the GST collections upto the expectation? That is a different debate.

 The Ministry of Finance today released the GST gross revenue collection data for the month of June 2019. Total gross GST revenue collected in the month of June, 2019 is ₹ 99,939 crore of which CGST is ₹ 18,366 crore, SGST is ₹ 25,343 crore, IGST is ₹ 47,772 crore  (including ₹ 21,980 crore collected on imports) and Cess is ₹ 8,457 crore (including ₹ 876 crore collected on imports). This is the first fall below ₹ 1 lakh crore threshold after a gap of three months and a third straight monthly decline in collection.

 The total number of GSTR 3B Returns filed for the month of May up to 30th June, 2019 is 74.38 lakh. 


The Government has settled ₹ 18,169 crore to CGST and ₹ 13,613 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 June, 2019 is ₹ 36,535 crore for CGST and ₹ 38,956 crore for the SGST. 

 Revenue in June, 2018 was ₹ 95,610 crore and the revenue during June, 2019 is a growth of 4.52% over the revenue in the same month last year. The revenue in June, 2019 is 1.86% higher than the monthly average of GST revenue in FY 2018-19 (₹ 98,114 crore).
Here is the month wise collection chart from July 2017 to June 2019.







Stay tuned for more updates. Feel free to comment.

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