May GST collection grows 12% YoY to Rs 1,57,090 cr
New Delhi: The gross Goods & Services Tax (GST) revenue collected in the month of May stood at Rs 1,57,090 crore, the finance ministry said on Thursday.
CGST accounted for Rs 28,411 crore of the total GST collected, SGST stood at Rs 35,828 crore, and IGST Rs 81,363 crore (including Rs 41,772 crore collected on import of goods).
Cess, including Rs 1,057 crore collected on the import of goods, contributed Rs 11,489 crore to the total GST.
The government has settled Rs 35,369 crore to CGST and Rs 29,769 crore to SGST from IGST.
The total revenue of the Centre and the States in the month of May 2023 after the regular settlement is Rs 63,780 crore for CGST and Rs 65,597 crore for SGST.
The revenues for the month of May 2023 are 12% higher than the GST revenues in the same month last year.
During the month, revenue from the import of goods was 12% higher and the revenues from domestic transactions (including the import of services) are 11% higher than the revenues from these sources during the same month last year.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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