New Delhi : India’s gross Good & Services Tax (GST) revenue collected in the month of May, 2023 grew by 12 percent (YoY) to Rs.1,57,090 crore. However, it has dropped by 17 percent as compared to April fugure of 1.87 lakh crore.
Out of Rs. 1.57 lakh crore collected in May, CGST is Rs. 28,411 crore, SGST is Rs. 35,828 crore, IGST is Rs. 81,363 crore (including Rs. 41,772 crore collected on import of goods) and cess is Rs. 11,489 crore (including Rs. 1,057 crore collected on import of goods).
The government has settled Rs. 35,369 crore to CGST and Rs. 29,769 crore to SGST from IGST. The total revenue of Centre and the States in the month of May 2023 after regular settlement is ₹63,780 crore for CGST and Rs. 65,597 crore for the SGST.
The revenues for the month of May 2023 are 12% higher than the GST revenues in the same month last year. During the month, revenue from import of goods was 12% higher and the revenues from domestic transactions (including import of services) are 11% higher than the revenues from these sources during the same month last year.