According to the data released by the Finance Ministry, the September GST collection has increased from Rs 86449 crore to Rs 95480 crore as compared to July. At the same time, in July it was recorded at Rs 87,422 crore. In this way, the government earned Rs 973 crore less from GST in August compared to July. GST collection stood at Rs 90,917 crore as of June.
According to the data released by the Finance Ministry, CGST recovery has increased from Rs 15906 crore to Rs 17,741 crore. At the same time, SGST has increased from Rs 21064 crore to Rs 23131 crore. Apart from this, the GST cess recovery has come down from Rs 7215 crore to Rs 7124 crore.
In a written reply to a question in the Lok Sabha, Minister of State for Finance Anurag Singh Thakur had said that this estimate of GDP revenue was based on better GDP growth in FY 2020-21. But, recently released figures by the Statistics Office show that nominal GDP growth rate has dropped by 22.6 percent in the first quarter.
This biggest reason for decrease in GST revenue has also been the lockdown imposed in March in the wake of Corona virus epidemic. Meanwhile, economic activities were stalled and the GST return filing timeline was also extended without interest, late fees or penalty.