GST collections in June

GST collections in June crossed Rs 95,000 crore

The GST collections in June month has crossed in at Rs 95,610 crore, finance secretary Hasmukh Adhia said while commemorating one year milestone of the GST which is also known as indirect tax which was introduced last year on July 1 2017.

The GST collection for the month of June is slightly better than the last month numbers which stood at Rs 94,016 crore.

For the June month the total GST collected stands slightly above the Rs 89,885 crore figure which is the average collection for the nine months of 2017-18 till March.

The GST highest collection in  month was in April had crossed the Rs 1 lakh crore land mark on account of the year end effect, finance ministry had said.

Mr. Adhia said that Rs 1 lakh crore revenue is “not the norm still”. “We hope to bring GST revenue to the level of Rs. 1 lakh crore every month,” he said while addressing the GST-Day celebrations in New Delhi.

Experts have predicted that the GST collection will increase on account of higher compliance and introduction of the e-way bill.

The finance secretary praised the states for passing the GST Bill in record time.

The consumer should aware of what he is paying as indirect tax because of introduction of GST which has brought in transparency and empowered the consumer, interim finance minister Piyush Goyal said.

The interim finance minster said that the tax reform has proved a game changing reform for small traders and industry.

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