Covid-19 consequences: GST kitty dips, but shows recovery signs
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India, Aug. 2 -- Goods and Services Tax (GST) collections in July declined 3.8% to Rs 87,422 crore from the previous month and dropped 14.3% year-on-year as the coronavirus disease (Covid-19) pandemic took its toll on the economy, according to figures released by the finance ministry on Saturday.
In June, GST collections amounted to Rs 90,917 crore, In July 2019, revenue collections were Rs 1,02,082 crore.
Conceding that July collections were lower than June's, the finance ministry pointed out in a statement "...it is important to note that during the previous month, a large number of taxpayers also paid taxes pertaining to February, March and April 2020 on account of the relief provided due to Covid-19." That means July's actual collec...
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