GST Collection Falls 16% To ₹1.41 Lakh Cr From Record High In April

Mumbai: GST collection in May 2022 fell 16% to ₹1.41 lakh crore from an all-time high of ₹1.68 lakh crore in April 2022, the Finance Ministry’s data showed.

On a year-on-year basis, GST collections in May were up 44 per cent.

“Collection in the month of May, which relates to returns for April, the first month of the financial year, has always been lower than April, which relates to returns for March, the end of the financial year,” the Finance Ministry said a statement.

“However, it is encouraging to see that even in the month of May 2022, the gross GST revenue has crossed Rs 1.40 lakh crore,” he added.

Of the total GST collection in May, Central GST was Rs 25,036 crore, State GST Rs 32,001 crore, Integrated GST Rs 73,345 crore and Compensation Cess Rs 10,502 crore.

In May, the government settled Rs 27,924 crore in central GST and Rs 23,123 crore in state GST from integrated GST. As a result, the total revenue for the month after the settlement was Rs 52,960 crore for the Center and Rs 55,124 crore for State GST.

This is the 11th month in a row that the total GST mop-up has come in above the Rs 1-lakh-crore mark.

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