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

The Covid-induced shrinking of economic activity for the past few months continued to have its impact on government's tax collections with revenue under the Goods and Services Tax (GST) falling far below the psychological level of Rs 1 trillion to Rs 87,422 crore in July.

The July collections, which is 84 per cent of last year's numbers, is however, a recovery from the months of April and May when Covid-19 induced lockdowns and severe disruptions in economic activities resulting in GST collections nosediving to all time low levels.

The GST collections for the month of April was Rs 32,294 crore