Government data revealed that Rs 1,40,885 crore has been received as gross revenue collection from Goods and Services Tax (GST) for the month of May, 2022. Of this, CGST is Rs 25,036 crore, SGST is Rs 32,001 crore, IGST is Rs 73,345 crore and cess is Rs 10,502 crore. This is the third consecutive month, in which GST collection exceeded the Rs 1.4 lakh crore mark.
GST Collection in the month of September exhibits slight traces of economic recovery from the pandemic compared to 2020. The Tax revenue for the month of September alone crossed over Rs 1,17,010 crores which was 23% higher than the tax collected last year in the same period. The higher tax collection will help the government balance the Budget Deficit of 31% that arose due to lockdowns during the second wave.
Courtesy: The Economic Times