GST Collection Rises 12% To Rs 1.57 Lakh Crore In May

New Delhi:

Items and Providers Tax or GST assortment in Could rose 12 per cent to Rs 1.57 lakh crore, the finance ministry mentioned right this moment.

The gross Good & Providers Tax (GST) income collected within the month of Could, 2023 is Rs 1,57,090 crore of which Central GST is Rs 28,411 crore, State GST is Rs 35,828 crore, Built-in GST is Rs 81,363 crore (together with Rs 41,772 crore collected on import of products) and cess is Rs 11,489 crore (together with Rs 1,057 crore collected on import of products).

“The revenues for the month of Could 2023 are 12 per cent increased than the GST revenues in the identical month final yr,” the ministry mentioned in a press release.

Throughout the month, income from import of products was 12 per cent increased and the revenues from home transactions (together with import of providers) are 11 per cent increased than the revenues from these sources throughout the identical month final yr.

Items and Providers Tax (GST) assortment in Could final yr was about Rs 1.41 lakh crore.

Final month, GST assortment was at a file excessive of Rs 1.87 lakh crore.
 

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