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.
The Central Government revealed the GST revenues of April 2022, 20% higher than 2021 April, and gross CST collection at Rs 1,67,540 crores. Of the CST, CGST is Rs 33,153 crore; SGST Rs 41,41,793 crore; IGST Rs 81,939 crore. Furthermore, this is the first time that Gross-GST has crossed Rs 1.5 lakh crores. Moreover, the government has settled Rs 33,423 crore to CGST and Rs 26,962 crore to SGST.
Courtesy: The Free Press Journal
GST collections of March has skyrocketed at an all-time high of Rs 1.23 lakh crore. The FinMin has cited rapid economic recovery, effective tax administration and stringent fake billing measures besides the increase. Of the Rs 1.23 lakh crore, while CGST and SGST accounted for Rs 22,973 crore and Rs 29,329 crore respectively, IGST clocked Rs 62,842 crore. Notably, the collections increased by 27% compared to March 2020 figures.
Courtesy: The Times Of India