39,000 crore gap in GST from lockdown, revenue of Rs 1.02 lakh crore in May

GST collection in April was Rs 1.41 lakh crore

For the eighth time in a row, GST revenue has gone up by Rs. Over one lakh crore: Rs. GST of Rs 1,02,709 crore includes Rs 19,592 crore from the Center and Rs 22,653 crore from the state.

New Delhi: GST collection in May once again crossed Rs 1 lakh crore, according to figures released by the Finance Ministry on Saturday. For the eighth time in a row, GST collection has crossed Rs 1 lakh crore.

According to the latest figures, the collection was Rs 102,709 crore in May. Which is less than in April. The second wave of Corona led to lockdowns and other sanctions that had an impact on the market.

According to the released data, Rs 102,709 crore was collected in GST collection this time, of which CGST i.e. Central GST is Rs 17,592 crore, SGST i.e. GST of States is Rs 22,653 crore and Integrated IGST is Rs 53,199 crore as well as cess of Rs. 9265 crore.

Compared to last year, GST collection in May this year has been more than 65 per cent. The figures are for GST collection on domestic transactions up to June 4. The second wave of Corona-19s has given taxpayers relief in the form of interest rebates and deductions for filing returns 15 days late in May.

The ministry said that despite lockouts in many states, the collection figure is more than Rs 1 lakh crore. However, the second wave of Corona saw a decline in the government's GST collection. The government had an all-time high GST collection in April, while the government gross GST collection in April 2021 was Rs 1,41,384 crore.

Even though the GST collection in May was lower than in April, it has been more than Rs 1 lakh crore in May despite the restrictions attached to Corona. This is the eighth consecutive month when the monthly collection of GST has been more than one lakh crore rupees. The government has clarified that the GST collection figures for May also include GST collected from domestic transactions till June 4.