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GST revenue collection crosses Rs 1 lakh crore in May

The revenue in May, 2019 is 2.21% higher than the monthly average of GST revenue in FY 2018-19 (Rs 98,114 crore).

GST revenue collection crosses Rs 1 lakh crore in May

New Delhi: Goods and Services Tax (GST) collections grew 6.67 percent to touch Rs 1 lakh crore in May, as compared to Rs 94,016 crore in the year-ago period, the government said Saturday.

“The total gross GST revenue collected in the month of May, 2019 is Rs 1,00,289 crore of which CGST is Rs 17,811 crore, SGST is Rs 24,462 crore, IGST 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),” an official release said.

The 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).

The total number of GSTR 3B Returns filed for the month of April up to 31st May, 2019 is 72.45 lakh.

The government has settled Rs 18,098 crore to CGST and Rs 14,438 crore to SGST from IGST as regular settlement. The total 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.

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