GST collection above Rs 1 lakh crore in May

GST collection above Rs 1 lakh crore in May

Photo for representational purpose only

Tribune News Service

New Delhi, June 5

GST tax collections remained above Rs 1 lakh crore mark for the eighth straight month in May, indicating that the impact of the second wave of Covid-19 on the economy might have been limited.

Tax collections on sale of goods and rendering of services in May (Rs 1.02 lakh crore) were 27 per cent lower than April 2021, but 65 per cent higher than May 2020 when the nation was under complete lockdown.

“Gross GST revenue collected in May 2021 is Rs 1,02,709 crore of which, CGST is Rs 17,592 crore, SGST is Rs 22,653 crore, IGST is Rs 53,199 crore (including Rs 26,002 crore collected on import of goods) and Cess is Rs 9,265 crore (including Rs 868 crore collected on import of goods),” a statement by the Finance Ministry said. — PTI

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