GST income for May stood at practically Rs 1.41 lakh crore, a 44 per cent improve over the identical month final 12 months, the Finance Ministry mentioned on Wednesday.
Bucking the month-on-month growing pattern of the final two months, the Goods and Services Tax (GST) revenues got here in decrease than the file excessive assortment in April at Rs 1.68 lakh crore.
In March GST revenues had been at Rs 1.42 lakh crore, whereas in February it was Rs 1.33 lakh crore.
“The gross GST revenue collected in the month of May 2022 is Rs 1,40,885 crore of which CGST is Rs 25,036 crore, SGST is Rs 32,001 crore, IGST is Rs 73,345 crore (including Rs 37469 crore collected on import of goods) and cess is Rs 10,502 crore (including Rs 931 crore collected on import of goods),” Ministry mentioned in an announcement.
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The revenues for the month of May 2022 are 44 per cent increased than the GST revenues in the identical month final 12 months at Rs 97,821 crore.
This is the fourth time that the month-to-month GST assortment has crossed Rs 1.40 lakh crore mark because the inception of GST and the third straight month since March 2022.
The assortment in May, which pertains to the returns for April — the primary month of the monetary 12 months — has at all times been lower than that in April, which pertains to the returns for March, the closing of the monetary 12 months.
However, it’s encouraging to see that even within the month of May 2022, the gross GST revenues have crossed the Rs 1.40 lakh crore mark, the Ministry mentioned.
The complete variety of e-way payments generated within the month of April 2022 was 7.4 crore, which is 4 per cent lesser than 7.7 crore e-way payments generated within the month of March 2022.