GST revenue bucked the two-month rising trend in May and stood at nearly Rs 1.41 lakh crore, registering a year-on-year increase of 44%. Though the May Goods and Services Tax (GST) revenue came in lower than the record high collection in April at Rs 1.68 lakh crore and Rs 1.42 lakh crore in March, it is still the fourth highest collection since the rollout of the new indirect tax regime on July 1, 2017. In February, revenue from taxing sale of goods and services was at Rs 1.33 lakh crore, while in January it was Rs 1,40,986 crore.
“The gross GST revenue collected in the month of May 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 (including Rs 37,469 crore collected on import of goods) and cess is Rs 10,502 crore (including Rs 931 crore collected on import of goods),” the Finance Ministry said.
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