GST Assortment In Might Hits Rs 1.40 Lakh Crore; Drops 16% From File Excessive Of April

GST collection in May data has been released today.  (Image: Shutterstock)

GST assortment in Might knowledge has been launched right this moment. (Picture: Shutterstock)

The GST collections in Might this yr is a rise of 44 per cent in respect to the year-on-year foundation, the finance ministry mentioned in a press release.

Items and Service Tax, or GST assortment in Might this yr has hit an quantity of Rs 1,40,885, the finance ministry mentioned in a press release on Wednesday. This is a rise of 44 per cent in respect to the year-on-year foundation, the Heart has mentioned. Nonetheless, it is a drop of 16 per cent as in comparison with the GST collections in April.

The gross GST income collected within the month of Might 2022 is Rs 1,40,885 crore of which CGST is Rs 25,036 crore, SGST is Rs 32,001 crore, IGST is Rs 73,345 crore (together with Rs 37469 crore collected on import of products) and cess is Rs 10,502 crore (together with Rs 931 crore collected on import of products).

“The gathering within the month of Might, which pertains to the returns for April, the primary month of the monetary yr, has all the time been lower than that in April, which pertains to the returns for March, the closing of the monetary yr. Nonetheless, it’s encouraging to see that even within the month of Might 2022, the gross GST revenues have crossed the Rs 1.40 lakh crore mark,” mentioned the finance ministry in its assertion.

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