New Delhi, June 2 (KNN) The Goods and Services Tax or GST collection in May rose 12 per cent to Rs 1.57 lakh crore, according to the data released by the finance ministry.

The gross Good & Services Tax revenue collected in the month of May is Rs 1,57,090 crore of which Central GST is Rs 28,411 crore, State GST is Rs 35,828 crore, Integrated GST is Rs 81,363 crore and cess is Rs 11,489 crore.

“The revenues for the month of May 2023 are 12 per cent higher than the GST revenues in the same month last year," the ministry said in a statement.
However, the GST collection in the Month of May is less than the GST collection of April that was a record high of Rs 1.87 lakh crore.

Sequentially, May’s revenues, for transactions undertaken in April, the first month of the new financial year, were the lowest in three months, and 16 per cent below the record Rs 1.87 lakh crore collected in April.

This was the 14th successive month that GST revenues were over Rs 1.4 lakh crore and the fifth occasion that they surpassed the Rs 1.5 lakh crore mark.  (KNN Bureau)