GST Revenue collection for July 2021 – 33% YoY jump at Rs 116,393 cr; 51% growth for Maharashtra; 54% growth for Odisha-highest among top contributors

India collected a gross Goods and Services Tax (GST) revenue of Rs 116,393 cr in July 2021 according to a release the Ministry of Finance. Out of this, the Central Goods and Services Tax (CGST) stood at Rs 22,197 cr while the Goods and Services Tax (SGST) stood at Rs 28,541 crore, this release said.

The IGST stood at Rs 57,864 cr which included Rs 27,900 cr collected on import of goods and Cess at Rs 7,790 cr (including Rs 815 cr collected on import of goods).

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The above figure includes GST collection received from GSTR-3B returns filed between 1 July 2021 to 31 July 2021 as well as IGST and cess collected from imports for the same period.

The GST collection for the returns filed between 1 July and 5 July 2021 of Rs 4,937 cr had also been included in the GST collection in the press note for the month of June 2021since taxpayers were given various relief measures in the form of waiver/reduction in interest on delayed return filing for 15 days for the return filing month June21 for the taxpayers with the aggregate turnover up to Rs 5 cr in the wake of covid pandemic second wave.

The government has settled Rs 28,087 cr to CGST and Rs 24,100 cr to SGST from IGST as regular settlement. The total revenue of Centre and the States after regular settlement in the month of July’ 2021 is Rs 50,284 cr for CGST and Rs 52,641 crore for the SGST.

The revenues for the month of July 2021 are 33 per cent higher than the GST revenues in the same month last year. During the month, revenues from import of goods was 36 per cent higher and the revenues from domestic transaction (including import of services) are 32 per cent higher than the revenues from these sources during the same month last year.

State-wise figures of top 10 GST contributors and their growth during July 2021 versus July 2020:

1. Maharashtra – 51 per cent growth at Rs 18,899 cr in July 2021
2. Gujarat – 36 per cent growth at Rs 7,629 cr in July 2021
3. Karnataka – 12 per cent growth at Rs 6737 cr in July 2021
4. Tamil Nadu – 36 per cent growth at Rs 6,302 cr in July 2021
5. Uttar Pradesh - 18 per cent growth at Rs 6,011 cr in July 2021
6. Haryana – 53 per cent growth at Rs 5,330 cr in July 2021
7. Delhi – 45 per cent growth at Rs 3815 cr in July 2021
8. Odisha – 54 per cent growth at Rs 3815 cr in July 2021
9. Telangana – 26 per cent growth at Rs 3,610 cr in July 2021
10. West Bengal – 15 per cent growth at Rs 3,610 cr in July 2021
11. Rajasthan – 12 per cent growth at Rs 3,129 cr in July 2021
     

GST collection, after posting above Rs 1 lakh crore mark for eight months in a row, dropped below Rs 1 lakh cr in June 2021 as the collections during the month of June 2021 predominantly related to the month of May 2021, the government release said adding that during May 2021, most of the States/UTs were under either complete or partial lock down due to COVID.

Easing out of COVID restrictions would spur GST collection over the next months, the government release said.