July GST collection tumbles 14% to Rs 87,422 cr as Covid-19 hits economy

The Covid-induced shrinking of economic action for the earlier few months continued to have its affect on government’s tax collections with earnings less than the Items and Solutions Tax (GST) slipping much under the psychological degree of Rs 1 trillion to Rs 87,422 crore in July.

The July collections, which is 84 per cent of last year’s figures, is on the other hand, a recovery from the months of April and May possibly when Covid-19 induced lockdowns and significant disruptions in economic actions ensuing in GST collections nosediving to all time minimal degrees.

The GST collections for the month of April was Rs 32,294 crore which was mere 28 per cent of the earnings gathered in the course of the same month last calendar year and the GST collections for the month of May possibly was Rs 62,009 crore which was 62 per cent of the earnings gathered in the

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