GST Collection: GST collection in May stood at Rs 1.41 lakh crore, 16% less than April

Posted on 1st Jun 2022 05:21 pm by rohit kumar

The figures for GST revenue were presented by the Finance Ministry on Wednesday. According to this, the GST collection of the government during May has been more than Rs 1.41 lakh crore. Which is 44 percent more than the corresponding month of last year. However, it is 16.6 percent less than the previous month.

 

Significantly, this figure was at its highest level last month. In April 2022, the government broke all the records in the GST collection. GST revenue in April hit an all-time high of around Rs 1.68 lakh crore. At the same time, GST revenue in March was Rs 1.42 lakh crore. Whereas in February it was Rs 1.33 lakh crore. Let us inform here that this has happened for the fourth time since the implementation of GST in May 2022, while the GST revenue crossed 1.40 lakh crores.

 

The gross GST revenue for May 2022 is Rs 1,40,885 crore, the ministry said in a statement. This includes CGST Rs 25,036 crore, SGST Rs 32,001 crore, IGST Rs 73,345 crore (including Rs 37,469 crore collected on import of goods) and Cess Rs 10,502 crore (including Rs 931 crore collected on import of goods). The revenue for May 2022 is 44 percent higher than the GST revenue of Rs 97,821 crore in the corresponding month last year.

 

Also Read: Cryptocurrency: Government may take a big decision on cryptocurrency soon, big update regarding the consultation paper

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