GST collections up 65 per cent in May, crossing Rs 1 lakh crore for eighth consecutive month

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.

Month

GST collection in crores

January 2021 120000
February 2021 113000
March 2021 123000
April 2021 1,41,384
May 2021 1,02000
December 2020 1,15,174
November 2020 1,04,963
October 2020 1,05,155
September 2020 95,480 Rs
August 2020 86,449
July 2020 87,422
June 2020 90,917 Rs
May 2020 62009
April 2020 32,294
March 2020 97,597
February 2020 105366
January 2020 110000

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.

Related news

Disclaimer: The above information is for general informational purposes only. We are not uploading or coping any content without relevant content owner permission, All information on the Site is provided in good faith, however we make no representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, availability or completeness of any information on the Site.