New Delhi: For the first time in eight months, the GST collection slipped under Crore Rs 1 Lakh because of locking in most countries, with the mop-up add RS 92,849 Crore in June.
The latest data released by the Ministry of Finance (for collections in June, for transactions in May) was the lowest since RS 95,480 Crore was collected in September.
However, the government is optimistic that calculations will increase this month because economic activity has continued, after the second wave of Koronavirus infection.
“The daily average generation of e-way bills for the first two weeks April 2021 is 20 lakh, which fell to 16 lakh last week in April 2021 and further to 12 lakh in two weeks between 9 and 22 May.
After that , the average generation of e-way bills has increased and has reached to the level of 20 lakh since Sunday starting June 20.
Therefore, it is expected that GST revenue has dipped during June, income will see an increase again from July and so on, “The Ministry of Finance said.
While GST Center fell 13.5%, another segment – state and integrated GST – reported an increase.
Another segment that sees a decline is the Cess collection, shows that luxury and sin, such as cars and coal, are more affected by locking.
Although, the government came to suggest that the monthly mop-up of RS 1-Lakh-Crore was new normal, the kuncian had clearly disappointed calculations.