GST collections jumped 44% to almost 1.

41 lakh crore in May

Indirect tax take was higher than in May 2021, but 15.9% below April's record kitty
Revenue check India's goods and services tax collections crossed the 1.4 Lakh crore mark for the third consecutive month in May 2022.
The revenues were 44% higher than a year earlier

NEW DELHI
Gross Goods and Services Tax (GST)
revenues in May rose 44% from a year
earlier to 1,40,885 crore, with receipts
from domestic transactions and
services imports rising at a matching
pace, while goods imports yielded 43%
higher taxes,
"This is only the fourth time the
monthly GST collection crossed 21.4
lakh crore mark since the inception of
GST and the third month at a stretch
since March 2022," the Finance
Ministry said.
Explaining the month-on month dip in
GST revenues from April's record April’s figure was higher than Which included 37,469 crore “TAX CUSHION “
31.67 lakh crore, the Ministry said the May , As it included tax payers from import of goods, GST A sustained healthy National
receipts in May were for transactions filing their quarterly based taxes Compensation inflow's used momentum of activity in average ,including the
undertaken in April, and had always as well explained and leader to recompense states the absence of another major industrial states
been lesser than April's GST revenues. (indirect Tax) at Deloitte India. amount's to 10,502 crore COVID breakout and major of karnataka 60% ,
GST collections in April reflected the Revenue growth from domestic including 931 crore from disruption could help Maharashtra 50% and
returns filed in March, pertaining to transaction in cluding imports of goods imports . this was only central GST inflows exceed Gujarat 46%.
the financial year closing the Ministry services outpaced revenue from marginally lower than April’s budget estimates by 1.15 Amoung southern
noted. good imports after several 10,649 crore figures . lakh crore and help absorb states tamilNadu’s
However, it is encouraging to see that months in may in April,for While the sequential dip in a part of the centre higher collections grew 41%
even in the month of May 2022, the instance revenue from domestic May GST inflows was subsidy bill” she while Andhra
gross GST revenues have crossed the transaction rose 17% while expected the high year on concluded. Pradesh , kerala and
14 lakh crore mark. Total number of e- goods imports yielded a 30% year growth reflects the low Revenue growth was Telangana saw growth
way bills generated in... April 2022 uptick. Of the total revenue in base from the second COVID- botany across most states of 47% 80% and 33%
was 7.4 crore, which is 4% lesser than May central GST collections 19 wave pointed out Aditi union Territories saw respectively.
7.7 crore e way bills generated in the were 25,036 crore state GST Nayar, cheif economics at revenues rise faster than
month of March 2022," the Ministry 32,001 crore and international ratinting agency ICRA. the 44%
said in a statement. integrated GST 73,345 crore