GST collection breaks record, collection of 1.57 lakh crores in May
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New Delhi (Best Hindu News): The Goods and Services Tax (GST) revenue collection stood at Rs 1.57 lakh crore in May this year, which is 12 percent higher than Rs 140885 crore collected in May 2022. The revenue collected in May 2023 after the implementation of GST has crossed Rs 1.5 lakh crore for the fifth time. A record GST revenue of Rs 1.87 lakh crore was collected in April this year, which was the highest ever. Earlier in April last year, this amount was Rs 167540 crore. The GST revenue collection for the last 14 months has remained above Rs 1.40 lakh crore. In March 2023 it was Rs 160122 crore.
The Finance Ministry released the GST revenue collection data here today, in which the revenue collected in May 2023 has been Rs 157090 crore. The revenue collected in April this year was Rs 28,411 crore from CGST, Rs.35,828 crore from SGST, Rs.81,363 crore from IGST, including Rs.41,772 crore from taxes collected on imports. Cess collection stood at Rs 11489 crore which includes tax collected on imports Rs 1057 crore. The government has given Rs 35369 crore in CGST and Rs 29769 crore in SGST out of IGST under regular settlement. In this way, CGST has been Rs 63780 crore and SGST has been Rs 65597 crore in May.
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