New Delhi: The revenue for Goods and Services Tax (GST) has touched Rs 1.57 lakh crore in May. This collection in May is 12% higher than the GST revenues in the same month last year.
According to the data released by the Union Finance Ministry, the gross GST revenue collected in the month of May, 2023 is Rs 1,57,090 crore of which Central GST is Rs 28,411 crore, State GST is Rs 35,828 crore, Integrated GST is Rs 81,363 crore (including Rs 41,772 crore collected on import of goods) and cess is Rs 11,489 crore (including Rs 1,057 crore collected on import of goods).
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During May 2023, revenue from import of goods was 12% higher and the revenues from domestic transactions (including import of services) are 11% higher than the revenues from these sources during the same month last year. Goods and Services Tax (GST) collection in May last year was about Rs 1.41 lakh crore.
Last month, GST collection was at a record high of Rs 1.87 lakh crore.
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