Gross GST collections rise 16.4% to over Rs 2.01 trn in May: Govt data
Gross GST collections rose 16.4 per cent to over Rs 2.01 lakh crore in May, as per government data released on Sunday. This comes after a record high Goods and Services Tax (GST) collection in April, when the revenues touched an all-time high of Rs 2.37 lakh crore. In May, gross revenues from domestic transactions rose 13.7 per cent to about Rs 1.50 lakh crore, while GST revenue from imports grew 25.2 per cent to Rs 51,266 crore. In May, the gross Central GST revenues stood at Rs 35,434 crore, State GST revenues at Rs 43,902 crore and Integrated GST at about Rs 1.09 lakh crore. Revenues from Cess was at Rs 12,879 crore. In May, 2024, the mop up was Rs 1,72,739 crore. Meanwhile, total refunds during the month fell 4 per cent to Rs 27,210 crore. Net GST mop-up stood at about Rs 1.74 lakh crore, a 20.4 per cent year-on-year growth. Deloitte India Partner M S Mani said the wide variations in the growth of GST collections across states require a thorough analysis across the sectors t
Gross GST collections rose 16.4 per cent to over Rs 2.01 lakh crore in May, as per government data released on Sunday.
This comes after a record high Goods and Services Tax (GST) collection in April, when the revenues touched an all-time high of Rs 2.37 lakh crore.
In May, gross revenues from domestic transactions rose 13.7 per cent to about Rs 1.50 lakh crore, while GST revenue from imports grew 25.2 per cent to Rs 51,266 crore.
In May, the gross Central GST revenues stood at Rs 35,434 crore, State GST revenues at Rs 43,902 crore and Integrated GST at about Rs 1.09 lakh crore. Revenues from Cess was at Rs 12,879 crore.
In May, 2024, the mop up was Rs 1,72,739 crore.
Meanwhile, total refunds during the month fell 4 per cent to Rs 27,210 crore.
Net GST mop-up stood at about Rs 1.74 lakh crore, a 20.4 per cent year-on-year growth.
Deloitte India Partner M S Mani said the wide variations in the growth of GST collections across states require a thorough analysis across the sectors t
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