How did the GST collections pan out for the month of July?

The goods & services tax collections had fallen sharply in the month of June due to impact of COVID 2.0. However, the good news is that it has recovered in July. IN fact, the GST collections for July 2021 came in at a very robust level of Rs.1,16,393 crore. This is in sharp contrast to the collections of just Rs.92.500 in the month of July, which would have left revenue sources really short of target for the Indian economy.

The July collections also mark a 3-month high in inflows. However, the July GST collections typically pertain to June output, so the coming month could improve even further. GST collections had touched a record of Rs.1,41,000 crore in April, before COVID 2.0 spoilt the momentum. The signals of a recovery were there with e-way bill generation up 50% sequentially at 1.8 million. GST from imports and domestic transactions were sharply higher.