Many large companies to move Appellate Authority against GST demand notices
In recent days, an increasing number of GST notices have been sent to many companies mainly on account of alleged discrepancy in input tax credit (ITC).
The gross GST revenue collected in June witnessed a meagre 2.80 per cent rise to Rs 1,61,497 crore, compared to Rs 1,57,090 crore collected in May.
Out of the GST collected in June, CGST was Rs 31,013 crore, SGST was Rs 38,292 crore, IGST was Rs 80,292 crore (including Rs 39,035 crore collected on import of goods) and cess Rs 11,900 crore (including Rs 1,028 crore collected on import of goods).
The government has settled Rs 36,224 crore to CGST and Rs 30,269 crore to SGST from IGST.
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The total revenue of Centre and the states in June after regular settlement was Rs 67,237 crore for CGST and Rs 68,561 crore for the SGST.
The revenues for the month of June are 12 per cent higher than the GST revenues in the same month last year.
During June, the revenues from domestic transactions (including import of services) are 18 per cent higher than the revenues from these sources during the same month last year.
It is for the fourth time that the gross GST collection has crossed the Rs 1.60 lakh crore mark.
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