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Gst Collections Surge 12% to Rs 1.57 Lakh Crore in May

Monthly GST revenues have topped Rs 1.4 lakh crore for 14 consecutive months, with Rs 1.5 lakh crore crossed for the fifth time since the inception of the GST. Last month, GST collection was at an all-time high of Rs 1.87 lakh crore.

Goods and Services Tax (GST) collections for the month of May stood at Rs 1.57 lakh crore, a growth of 12% from the prior year period.

GST collections for the month of May, which relate to business transactions made during the month of April and reported during the month of May.

“Gross Goods and Services Tax (GST) revenue collected in the month of May 2023 is Rs 1,57,090 crore, of which CGST is Rs 28,411 crore, SGST is Rs 35,828 crore, IGST is Rs 81,363 Rs. 41,772 crore collected on importation of goods) and the tax is Rs. 11,489 crore (including Rs. 1,057 crore collected on importation of goods),” the Ministry of Finance said. .


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