GST income in May 2021 stood at Rs 1,02,709 crore, stated the finance ministry
The gross items and providers tax (GST) income collected in May 2021 stood at Rs 1,02,709 crore, holding the Rs 1 lakh crore mark for the eighth month in a row, stated the Ministry of Finance in an announcement launched on Saturday. Out of the overall gross GST income of Rs 1,41,384 crore, the central items and providers tax (CGST) stood at Rs 17,592 crore, whereas state good and providers tax (SGST) stood at Rs 22,653. However, on a month-on-month foundation, GST income assortment declined in May from the all-time report excessive mark of Rs 1.41 lakh crore registered in April 2021. (Also Read: At Over Rs 1.41 Lakh Crore, GST Collection In April Sets All-Time High Record )
In May, GST income assortment edged decrease because of the lockdown restrictions imposed in numerous states amid the second wave of the COVID-19 pandemic. The built-in items and providers tax (IGST) stood at Rs 53,199 crore (together with Rs. 26,002 crore collected on the import of products) and the cess was Rs. 9,265 crore (together with Rs. 868 crore collected on import of products). During the month the federal government settled Rs 15,014 crore to CGST and Rs 11,653 crore to SGST from IGST as common settlement, stated the finance ministry.
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