The government’s procurement of goods and services (GST) stood at 1.02 trillion rupees in May. This is the eighth consecutive month of GST collection figures, which is worth Rs 1 lakh crore. GST collections increased by 65 per cent in May 2021 compared to the same month last year. GST collection in May 2020 was Rs 62,009 crore.
Last year, economic activity was affected by a nationwide lockdown due to the Kovid-19 epidemic. This led to a decline in GST collection. However, the GST collections for the month of May declined to Rs 1.41 lakh crore in April-2021. According to a statement released by the finance ministry on Saturday, total GST collections in May stood at Rs 1,02,709 crore. Central GST (CGST) share was Rs 17,592 crore, State GST (SGST) Rs 22,653 crore and Integrated GST (IGST) Rs 53,199 crore. Of this, goods worth Rs 26,002 crore and cess share worth Rs 9,265 crore. 868 crores of cess has been collected on import of goods.
GST collection in crores
|September 2020||95,480 Rs|
|June 2020||90,917 Rs|
The above figure is GST on domestic trading till June 04. Due to the second wave of COVID-19, taxpayers have been compensated in the form of interest deductions / deductions for filing 15 days late returns in May. Despite the stringent lockdown in many states, the collection figure is estimated at one trillion.