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New Delhi : The gross GST revenue collected in the month of June, 2020, is Rs 90,917 crore of which CGST is Rs. 18,980 crore, SGST is Rs 23,970 crore, IGST is Rs 40,302 crore (including Rs. 15,709 crore collected on import of goods), and Cess is Rs 7,665 crore (including Rs. 607 crore collected on import of goods).
The government has settled Rs 13,325 crore to CGST and Rs. 11,117crore to SGST from IGST as regular settlement.The total revenue earned by Central Government and the State Governments after regular settlement in the month of June, 2020 is Rs 32,305 crore for CGST and Rs. 35,087 crore for the SGST, according to a PIB release.
The revenue for the month are 91% of the GST revenues in the same month last year. During the month, the revenue from import of goods were 71% and the revenue from domestic transaction (including import of services) were 97% of the revenue from these sources during the same month last year.
During the month of June, returns of February, March, and April 2020 have also been filed in addition to some returns of May 2020 since Government has allowed a relaxed time schedule for filing of GST returns. Some returns of May 2020, which would have otherwise got filed in June 2020, will get filed during first few days of July 2020.
The revenue during the financial year has been impacted due to COVID-19, firstly due to the economic impact of the pandemic and secondly due to the relaxations given by the Government in filing of returns and payment of taxes due to the pandemic. However, figures of past three months show recovery in GST revenue.
The GST collections for the month of April was Rs. 32,294 crore which was 28% of the revenue collected during the same month last year and the GST collections for the month of May was Rs 62,009 crore which was 62%of the revenue collected during the same month last year.
The GST collections for the first quarter of the year is 59%of the revenue collected during the same quarter last year. However, a large number of taxpayers still have time to file their return for the month of May, 2020.