Goods and services tax (GST) collections fell to Rs 141 crore in May, down 16% from a record high of Rs 1.68 lakh crore set in April, Finance Ministry data showed on June 1. GST levy increased by 44% in May compared to last year.

The May collection, which coincides with the April return of the first month of the fiscal year, was always lower than that of April, which coincides with the March return towards the end of the fiscal year, the finance ministry said in a statement.

“However, it is encouraging to see that even in May 2022, the total GST revenue exceeded Rs 1.40 trillion,” it added.
Of the total GST collection in May, central GST was Rs 25,036 crore, state GST was Rs 32,001 crore, consolidated GST was Rs 73,345 crore, and compensation tax was Rs 10,502 crore.

• ChatGPT Mobile App Introduces Video and Screensharing Features
• India’s Forex Reserves Drop by $3.23 Billion to $654.86 Billion on 6th Dec
• Paraguayan President Santiago Pena Opens Jerusalem Embassy
• Premier Energies Planning to Establish 1 GW Manufacturing Plant in Telangana 
• International Gemmological Institute (India) IPO GMP, Lot Size & Key Dates

In May, the government disbursed Rs 27,924 crore from central GST and Rs 23,123 crore from state GST from integrated GST. As a result, the total revenue for the month following the settlement was Rs 52,960 crore for the Center and Rs 55,124 crore for the state GST. This is the 11th consecutive month where the total GST mop-up has crossed Rs 1 lakh crore.