NEW DELHI: Goods and services tax (GST) collection for May stood at Rs 1,40,885 crore, the finance ministry said in an official statement on Wednesday.
GST revenue in May was 15% below the record high of Rs 1.68 lakh crore in April.
However, it is 44% higher than the GST revenue of Rs 97,821 crore collected in May 2021.
Of the total Rs 1,40.885, the central goods and services tax (CGST) is Rs 25,036, the state goods and services tax (SGST) is Rs 32,001, while the aggregate goods and services tax (IGST) ) is Rs 73,345 (including Rs 37,469 collected when importing goods) and corporate income tax is Rs 10,502 (including Rs 931 collected when importing goods).
“For the month, revenue from imports of goods was 43 percent higher and revenue from domestic transactions (including imports of services) was 44 percent higher than revenues from these sources in the same month last year,” the statement said. said.
This is the fourth time every month GST . Collection exceeded Rs 1.40 lakh since the introduction of GST and extended for the 3rd month from March 2022.
“The collection of money in May, relative to profits for April, the first month of the fiscal year, is always less than in April, relative to profits for March, the end of the fiscal year,” the ministry said. finance said.
GST revenue in May was 15% below the record high of Rs 1.68 lakh crore in April.
However, it is 44% higher than the GST revenue of Rs 97,821 crore collected in May 2021.
Of the total Rs 1,40.885, the central goods and services tax (CGST) is Rs 25,036, the state goods and services tax (SGST) is Rs 32,001, while the aggregate goods and services tax (IGST) ) is Rs 73,345 (including Rs 37,469 collected when importing goods) and corporate income tax is Rs 10,502 (including Rs 931 collected when importing goods).
“For the month, revenue from imports of goods was 43 percent higher and revenue from domestic transactions (including imports of services) was 44 percent higher than revenues from these sources in the same month last year,” the statement said. said.
This is the fourth time every month GST . Collection exceeded Rs 1.40 lakh since the introduction of GST and extended for the 3rd month from March 2022.
“The collection of money in May, relative to profits for April, the first month of the fiscal year, is always less than in April, relative to profits for March, the end of the fiscal year,” the ministry said. finance said.
