For the first time in June, GST collection remains below Rs 1 lakh

For the first time in June, GST collection remains below Rs 1 lakh The figure collection is from june 5 to july 5,Cess stands at Rs 6,949 crore and CGST stands at Rs 16,424.

For the first time in June, The GST (Goods and services tax) remains below rupees 1 lakh and this stands at rupees 92,849. According to the statement given by the Ministry of Finance, it said, "In the gross collections, CGST stands at rupees 16,424 crores whereas SGST and IGST are rupees 20,397 and rupees 49,079 crores (including rupees 25,762 crores collected on import of goods)."

Whereas the Goods and services tax collection on June 5 to July 5, 2021, as taxpayers were provided with several relief measures which remain in the form of waiver or reduction of interest. In June, the revenues went up by 2 percent as compared to the GST revenues in the same month last year.

Meanwhile, this rupee 1 lakh crore drop in GST (goods and services tax) collection came after 8 months of continuously posting the collection above rupees 1 lakh crore.