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Goods and Services Tax (GST) revenue in July 2020 was 874.22 billion rupees, compared with 102.22 billion rupees in July 2019

New DelhiJuly 2020: The total Goods and Services Tax (GST) revenue collected in July 2020 was 87,422 crore, compared to 1,02,082 crore in July 2019.

GST receipts in July include Rs 16,147 crore for CGST, Rs 21,418 crore for SGST, Rs 4,592 crore for IGST (including Rs 20,324 crore collected from imports of goods), and Rs 7,265 crore for Cess (including 807 crore collected at the time of import). Products of).

The government also settled Rs 23,320 crore from IGST to CGST and Rs 18,838 crore to SGST as regular settlements.

The total revenue of the central government and the state government after regular settlement in July 2020 is CGST of 39.60 billion rupees and SGST of 40256 billion rupees.

The chart below shows the trend of monthly GST revenue in 2020. This table shows the state situation of GST collected by each state in July 2020 compared with July 2019 and the whole year.

This month’s income is 86% of GST income in the same month of 2019.

During July, income from imports of goods was 84%, and income from domestic transactions (including imports of services) accounted for 96% of July 2019 income from these sources.

Income in June was higher than that in July, but in June, due to the COVID-19 relief, many taxpayers also paid taxes for February, March and April 2020.

It is worth noting that taxpayers with a turnover of less than Rs. 5 crore will continue to enjoy the relaxation treatment in their return before September 2020.

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