According to data issued by the finance ministry on June 1, GST revenues decreased to Rs 1.41 lakh crore in May, down 16 percent from April’s all-time high of Rs 1.68 lakh crore.
GST receipts in May were up 44 percent year over year.
“The collection in May, which relates to returns for April, the first month of the financial year, has usually been lower than that in April, which relates to returns for March, the last month of the financial year,” the finance ministry said in a statement.
“However, it is good to observe that gross GST revenues have crossed the Rs 1.40 lakh crore threshold even in the month of May 2022,” it added
| TREND IN TOTAL GST COLLECTIONS | ||
| Month | Amount (in Rs crore) | YoY change |
| May 2022 | 1,40,885 | 44% |
| April 2022 | 1,67,540 | 20% |
| March 2022 | 1,42,095 | 15% |
| February 2022 | 1,33,026 | 18% |
| January 2022 | 1,40,986 | 18% |
| December 2021 | 1,29,780 | 13% |
| November 2021 | 1,31,526 | 25% |
| October 2021 | 1,30,127 | 24% |
| September 2021 | 1,17,010 | 23% |
| August 2021 | 1,12,020 | 30% |
| July 2021 | 1,16,393 | 33% |
| June 2021 | 92,800 | 2% |
The government paid Rs 27,924 crore to the Central GST and Rs 23,123 crore to the State GST in May as part of the Integrated GST settlement. As a result, the Centre’s total revenue for the month after settlement was Rs 52,960 crore, while State GST revenue was Rs 55,124 crore.
This is the 11th month in a row that the overall GST collection has exceeded Rs 1 lakh crore.
Featured Image: Wikimedia Commons
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