July GST figures not to be released, future data may be brief: Reports

The government is unlikely come out with the July figures of GST collection, and future monthly statements of GST collections may get more succinct.

Media reports quoted financial ministry sources as saying that the government may actually stop the practice of releasing a statement outlining GST collections data on the first day of every month.

And unlike the detailed format of the statements until now, future statements are likely to be brief, the reports said.

Headline figures

GST collection data for July 2024 is estimated at Rs 1.74 lakh crore but an official statement outlining the mop-up has not been released yet.

According to one report, the new version of GST collection statements may give headline figures such as total collections and overall Central GST and State GST mop-up numbers.

Apparently, the GST revenue in May and June has been lower than April’s record high numbers of Rs 2.10 lakh crore.

States are bitter

Despite robust GST collection, the Centre has been accused of delaying disbursal of payments to some states, affecting their day-to-day functioning.

An official was quoted as saying there won’t be any official release of GST figures for July.

According to experts, there has been a rise in compliance due to the structure of GST where buyers must ensure that vendors have paid taxes.