GST collection dips to Rs 1.02 lakh crore in May

NEW DELHI: GST revenue mop-up remained above the Rs 1 lakh crore-mark for the eight straight month in May at over Rs 1.02 lakh crore.
The May 2021 collection is 65 per cent higher than Rs 62,009 crore the Goods and Services Tax (GST) revenue of May 2020. Collections last year were impacted as economic activity took a hit due to the nationwide lockdown imposed to check the spread of Covid-19.
However, the revenue for May 2021 is lower than the record over Rs 1.41 lakh crore GST collected in April 2021.

“The gross GST revenue collected in the month of May 2021 is Rs 1,02,709 crore of which CGST is Rs 17,592 crore, SGST is Rs 22,653, IGST is Rs 53,199 crore (including Rs 26,002 crore collected on import of goods) and Cess is Rs 9,265 crore (including Rs 868 crore collected on import of goods),” the finance ministry said in a statement.
The above figure includes GST collection from…

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