New Delhi, There has been a decline in the collection of Goods and Services Tax (GST) in May as compared to April. Yet it is one and a half times more than in May of last year. The total GST collection in May 2022 stood at Rs 1,40,885 crore. The total collection of GST in April last year was Rs 97,821 crore. Thus, an increase of 44 per cent has been registered in GAC revenue in May 2022 as compared to May 2021. However, in April this year, revenue of more than one lakh 67 thousand crores was received.
The Finance Ministry on Wednesday released the GST data for May. In this central i.e. CGST Rs 25,036 crore. States’ ie SGST Rs 32,001 crore and Integrated i.e. IGST Rs 73,345 crore. The collection of cess on GST stood at Rs 10,502 crore. Earlier in April, the GST collection was one lakh 67 thousand 540 crores.
This is the fourth time since the implementation of GST five years ago and the third time in a row since March 2022 that the GST collection has crossed Rs 1.40 lakh crore. This happened for the first time in April 2022 when the GST collection was recorded at Rs 1,67,540 crore. Earlier, in March 2022, the GST collection was one lakh 42 thousand 95 crores, which was the highest GST collection in any month before this.
