GST mop-up jumps to `90,917 cr in June

Collections for April-June dip 41%

Vodafone Idea reported a staggering Rs 73,878 crore of net loss for 2019-20, the highest ever by any Indian firm, after it provisioned for Supreme Court mandated statutory dues. The firm, which has to pay Rs 51,400 crore dues to the Centre, said the liability has "cast significant doubt on the company's ability to continue as a going concern". The firm’s Q4 net loss widened to Rs 11,643.5 crore from a loss of Rs 4,881.9 crore YoY.

The goods and services tax (GST) collections for June stood at Rs 90,917 crore, down 9 per cent from the same month last year, but significantly higher than the mop up of Rs 62,009 crore in May and Rs 32,294 crore in April 2020.

GST revenues for the April-June quarter dipped by 41per cent, with the mopup declining 72 per cent, 38 per cent and 9 per cent, respectively, in April, May and June, on a yearon-year basis, according to data released by the department of revenue in the finance ministry on Wednesday.

The rise in June GST mop-up signals that economic activities are coming back to normal after Unlock 1.0 was implemented by the Centre.

"For the month of June, of total collections of Rs

90,917 crore, CGST was Rs

18,980 crore, SGST was Rs

23,970 crore, IGST was Rs

40,302 crore, including Rs

15,709 crore collected on import of goods and cess was Rs 7,665 crore, including Rs 607 crore collected on import of goods," the government data showed.

"The GST collection for the first quarter of the year was 41per cent less than the revenue collected during the same quarter last year, but a large number of taxpayers still have time to file their return for the month of May 2020 till early this month," the government said.