The state-wise lockdowns imposed in India, reduced the GST collections significantly. The Goods and Services Tax (GST) slipped below one lakh crore for the first time since August 2020.
The gross GST collection including all the states and Union Territories is Rs 92,849 crore for the month of June. Before that, the GST collection hit the one lakh crore mark for eight months consecutively. However, it is 2% higher than that of the June 2020.
Lockdowns were imposed in most of the states during the second wave, limiting the business activities. It is estimated that easing of lockdowns will see the significant rise in the collection of GST for the upcoming month.