Meghalaya has seen a growth of one per cent in GST revenue as per the latest data provided by the Finance Ministry.
According to the data, in Meghalaya the GST collection in July this year was Rs 121 crore. In July last year, the collection was Rs 120 crore.
This has shown that the growth from last year’s collection was one per cent. It also indicates that economic activities have resumed in the State after the easing out of Covid restrictions.
Other states in the North East have shown considerable jumps in GST collection this year as compared to last year.
Arunachal Pradesh has seen a GST collection increase of 69 per cent, Manipur 48 per cent, Tripura 36 per cent, Mizoram 31 per cent, Assam 22 per cent, Nagaland 11 per cent, Sikkim 6 per cent.
With the easing of Covid restrictions, GST collection for July 2021 has again crossed Rs 1 lakh crore, which clearly indicates that the economy is recovering at a faster pace. The robust GST revenues are likely to continue in the coming months too, the Finance Ministry statement said.
The gross GST revenue collected in the month of July 2021 was Rs 1,16,393 crore.
Out of the total revenue collected CGST was Rs 22,197 crore, SGST was Rs 28,541 crore, IGST was Rs 57,864 crore — including Rs 27,900 crore collected on import of goods — and Cess was Rs 7,790 crore — including Rs 815 crore collected on import of goods.
The GST collection for the returns filed during July 1-5 of Rs 4,937 crore had also been included in the GST collection for the month of June 2021 since taxpayers were given various reliefs in the form of waiver or reduction in interest on delayed return filing amid the pandemic, said an official statement.
The government has settled Rs 28,087 crore to CGST and Rs 24,100 crore to SGST from IGST as regular settlement. The total revenue of Centre and the states after regular settlement in the month of July 2021 was Rs 50,284 crore 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 were 36 per cent higher and the revenues from domestic transactions (including import of services) were 32 per cent higher than the revenues from these sources during the same month last year.
GST collection, after posting above Rs. 1 lakh crore mark for eight months in a row, dropped below Rs.
