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Wednesday, September 1, 2021

GST mop-up in August, but lower than July

GST mop-up in August, but lower than July


TCSN Desk 

02 Sep 2021

The GST collection numbers are shocking but lower than july. The August collections at Rs 1,12,020 crore were 29.6 per cent higher than in August 2020. In the last 11 months, GST collections have consistently remained over Rs 1 lakh crore, except in June (for sales in May). The second wave was also the most brutal in April-May.

In what indicates that the pick-up in economic activity has been sustained after a series of localised lockdowns during the Covid-19 second wave, gross Goods and Services Tax (GST) collections in August (for sales in July) crossed the Rs 1 lakh crore mark.

The August collections at Rs 1,12,020 crore were 29.6 per cent higher than in August 2020. In the last 11 months, GST collections have consistently remained over Rs 1 lakh crore, except in June (for sales in May). The second wave was also the most brutal in April-May.