Home Business GST Assortment Might 2022: GST assortment in Might at over Rs 1.40 lakh crore; 15% decrease than final month | India Enterprise Information

GST Assortment Might 2022: GST assortment in Might at over Rs 1.40 lakh crore; 15% decrease than final month | India Enterprise Information

GST Assortment Might 2022: GST assortment in Might at over Rs 1.40 lakh crore; 15% decrease than final month | India Enterprise Information

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NEW DELHI: Items and companies tax (GST) assortment for the month of Might got here in at Rs 1,40,885 crore, the finance ministry stated in an official launch on Wednesday.
GST revenues for Might is 15 per cent decrease than the document excessive assortment of Rs 1.68 lakh crore in April.
Nonetheless, it’s 44 per cent greater than the GST revenues of Rs 97,821 crore collected in Might 2021.

Of the overall Rs 1,40,885 crore, Central items and companies tax (CGST) quantities to Rs 25,036 crore, state items and companies tax (SGST) is Rs 32,001 crore, whereas built-in items and companies tax (IGST) is Rs 73,345 crore (together with Rs 37,469 crore collected on import of products) and cess is Rs 10,502 crore (together with Rs 931 crore collected on import of products).
“In the course of the month, revenues from import of products was 43 per cent greater and the revenues from home transaction (together with import of companies) are 44 per cent greater than the revenues from these sources throughout the identical month final yr,” the discharge stated.

That is the fourth time when month-to-month GST collection crossed Rs 1.40 lakh crore mark since inception of GST and third month at a stretch since March 2022.
“The gathering within the month of Might, which pertains to the returns for April, the primary month of the monetary yr, has at all times been lesser than that in April, which pertains to the returns for March, the closing of the monetary yr,” the finance ministry stated.

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