GST revenue collection jumps over Rs 1 lakh crore in May 2019

New Delhi, June 3 (KNN) Total Goods and Service Tax (GST) revenue collection jumped more than Rs 1 lakh crore in the month of May 2019, according to an official release.

Gross GST revenue collected in the month of May, 2019 is Rs 1,00,289 crore of which Central GST is Rs 17,811 crore, State GST is Rs 24,462 crore, Integrated GST is Rs 49,891 crore (including Rs 24,875 crore collected on imports) and Cess is Rs 8,125 crore (including Rs 953 crore collected on imports).

Total number of GSTR 3B Returns filed for the month of April up to 31st May, 2019 is 72.45 lakh. Government has settled Rs 18,098 crore to CGST and Rs 14,438 crore to SGST from IGST as regular settlement.

Revenue earned by Central Government and the State Governments after regular settlement in the month of May, 2019 is Rs 35,909 crore for CGST and Rs 38,900 crore for the SGST.

Revenue in May, 2018 was Rs 94,016 crore and the revenue during May, 2019 is a growth of 6.67% over the revenue in the same month last year. The revenue in May, 2019 is 2.21% higher than the monthly average of GST revenue in FY 2018-19 (Rs 98,114 crore).

Rs. 18,934 crore has been released to the states as GST compensation for the months of February-March, 2019.