MarketDeal24.Com – The gross revenue from general sales tax (GST) in June has summed up to Rs 90,917 crore. But it also marked the third consecutive month of contraction year-on-year.
Data published by the Indian government reveals that the revenue from GST in June were 91% of the total GST revenues in the same time period last year. Revenue intake has been hit hard by the impact of COVID-19 pandemic as lockdown has started taking its toll on the nation’s economy.
Government on the other hand has eased rules to file taxes late.
A government handout says that statistics of the last quarter show recovery in GST revenues. Collections for the month of April were Rs 32,294 crore, which was 28% of the revenue inflow during the same time period last year. And for the month of May, it was Rs 62,009 crore, according to 62% for the revenue collected during the year of 2019.