GST collection reduced to half in lockdown
The lockdown features a very adverse effect on GST (Goods and Services Tax). within the three months of April, May, June this point the GST collection has been halved compared to the previous time.
The lockdown was imposed on Annunciation across the country to defeat Corona. all types of employment and occupation came to a standstill after the ban on exit from the lockdown. This has affected the revenue received by the govt. The collection has come down by 45% over the previous year. consistent with data from the products and Services Tax, within the year 2019, collection of Rs 22 crore was wiped out the months of April, May, and June. this point when the shops, establishments, and industry businesses were banned, this collection decreased to Rs 12.30 crore.
The GST collection received by the department is 45% but the previous year. Now the unlocking process has been started within the whole country, so it’s expected that with the beginning of the industry, GST collection also will increase. The department has also fixed the responsibility for this.