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GST collections fall to Rs 87,422 crore in July from Rs 90,917 crore in June

New Delhi: GST collections in July fell to Rs 87,422 crore from Rs 90,917 crore in June, in conserving with a Finance Ministry statement.

On the other hand, July collections are greater than Rs 62,009 crore in May perchance moreover merely and Rs 32,294 crore in April. “The detrimental GST revenue quiet in the month of July 2020 is Rs 87,422 crore of which CGST is Rs 16,147crore, SGST is Rs 21,418 crore, IGST is Rs 42,592 crore (at the side of Rs 20,324 crore quiet on import of things) and Cess is Rs 7,265 crore,” a finance ministry statement said.

The revenues for the month are 86 p.c of the GST revenues in the identical month closing twelve months.

The ministry further said even supposing the June collections were greater than that in July, alternatively, it is excessive to show camouflage that at some stage in the old month, a huge selection of taxpayers moreover paid taxes relating to February, March, and April 2020 on account of the aid equipped due to COVID-19.

It would possibly perchance presumably presumably even be vital that the taxpayers with turnover lower than Rs 5 crore continue to acquire pleasure from rest in the filing of returns till September 2020.

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