India News | GST Collection Rises 12 Pc to Rs 1.57 Lakh Crore in May

New Delhi, Jun 1 (PTI) GST collection in May rose 12 per cent to Rs 1.57 lakh crore, the finance ministry said on Wednesday.

The gross Good & Services Tax (GST) revenue collected in the month of May, 2023 is Rs 1,57,090 crore of which Central GST is Rs 28,411 crore, State GST is Rs 35,828 crore, Integrated GST is Rs 81,363 crore (including Rs 41,772 crore collected on import of goods) and cess is Rs 11,489 crore (including Rs 1,057 crore collected on import of goods).

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"The revenues for the month of May 2023 are 12 per cent higher than the GST revenues in the same month last year," the ministry said in a statement.

During the month, revenue from import of goods was 12 per cent higher and the revenues from domestic transactions (including import of services) are 11 per cent higher than the revenues from these sources during the same month last year.

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Goods and Services Tax (GST) collection in May last year was about Rs 1.41 lakh crore.

Last month, GST collection was at a record high of Rs 1.87 lakh crore.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)