Banking & FinanceFinanceGSTInFocusNews

GST Revenue Collection for July 2021

Sharing is caring!

The gross GST revenue collected in the month of July 2021 is ₹ 1,16,393 crore of which CGST is ₹ 22,197 crore, SGST is ₹ 28,541 crore, IGST is ₹ 57,864 crore (including ₹ 27,900 crores collected on import of goods) and Cess is ₹ 7,790 crore (including ₹ 815 crores collected on import of goods). The above figure includes GST collection received from GSTR-3B returns filed between 1st July 2021 to 31st July 2021 as well as IGST and cess collected from imports for the same period.

The GST collection for the returns filed between 1st July to 5th July 2021 of ₹ 4,937 crore had also been included in the GST collection in the press note for the month of June2021since taxpayers were given various relief measures in the form of waiver/reduction in interest on delayed return filing for 15 days for the return filing month June 21 for the taxpayers with the aggregate turnover uptoRs. 5 crore in the wake of the covid pandemic second wave.

The government has settled ₹ 28,087 crores to CGST and ₹ 24100 crores to SGST from IGST as regular settlement. The total revenue of the Centre and the States after regular settlement in the month of July’ 2021 is ₹ 50284 crore for CGST and ₹ 52641 crores for the SGST.

The revenues for the month of July 2021 are 33% higher than the GST revenues in the same month last year. During the month, revenues from import of goods were 36% higher and the revenues from the domestic transactions (including import of services) are 32% higher than the revenues from these sources during the same month last year.

GST collection, after posting above Rs. 1 lakh crore mark for eight months in a row, dropped below Rs. 1 lakh crore in June 2021 as the collections during the month of June 2021 predominantly related to the month of May 2021 and during May 2021, most of the States/UTs were under either complete or partial lockdown due to COVID. With the easing out of COVID restrictions, GST collection for July 2021 has again crossed₹1 lakh crore, which clearly indicates that the economy is recovering at a fast pace. The robust GST revenues are likely to continue in the coming months too.

The table shows the state-wise figures of GST collected in each State during the month of July 2021 as compared to July 2020.

State-wise growth of GST Revenues during July 2021 [1]

Sr NoStateJul-20Jul-21Growth
1Jammu and Kashmir29843245%
2Himachal Pradesh60566710%
3Punjab1,1881,53329%
4Chandigarh13716923%
5Uttarakhand9881,10612%
6Haryana3,4835,33053%
7Delhi2,6293,81545%
8Rajasthan2,7973,12912%
9Uttar Pradesh5,0996,01118%
10Bihar1,0611,28121%
11Sikkim1861976%
12Arunachal Pradesh335569%
13Nagaland252811%
14Manipur253748%
15Mizoram162131%
16Tripura486536%
17Meghalaya1201211%
18Assam72388222%
19West Bengal3,0103,46315%
20Jharkhand1,3402,05654%
21Odisha2,3483,61554%
22Chattisgarh1,8322,43233%
23Madhya Pradesh2,2892,65716%
24Gujarat5,6217,62936%
25Daman and Diu770-99%
26Dadra and Nagar Haveli13022774%
27Maharashtra12,50818,89951%
29Karnataka6,0146,73712%
30Goa25730318%
31Lakshadweep21-42%
32Kerala1,3181,67527%
33Tamil Nadu4,6356,30236%
34Puducherry136129-6%
35Andaman and Nicobar Islands18196%
36Telangana2,8763,61026%
37Andhra Pradesh2,1382,73028%
38Ladakh71395%
39Other Territory9714145%
40Center Jurisdiction179161-10%
Grand Total66,29187,67832%

 

SMEStreet Edit Desk

SMEStreet Edit Desk is a small group of excited and motivated journalists and editors who are committed to building MSME ecosystem through valuable information and knowledge spread.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Back to top button
%d bloggers like this: