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Goods And Services Tax (GST) Collection In May 2021 Declines, Holds Rs 1 Lakh Crore Mark


GST revenue in May 2021 stood at Rs 1,02,709 crore, said the finance ministry
The gross goods and services tax (GST) revenue collected in May 2021 stood at Rs 1,02,709 crore, holding the Rs 1 lakh crore mark for the eighth month in a row, said the Ministry of Finance in a statement released on Saturday. However, on a month-on-month basis, GST revenue collection declined in May from the all-time record high mark of Rs 1.41 lakh crore registered in April 2021. Out of the total gross GST revenue of Rs 1,41,384 crore, the central goods and services tax (CGST) stood at Rs 17,592 crore, while state good and services tax (SGST) stood at Rs 22,653. ( ....

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Goods And Services Tax (GST): GST Collections Hit Record High Of Rs 1.24 Lakh Crore In March


Centre has also settled Rs 28,000 crore as IGST ad-hoc settlement
Goods and Services Tax (GST) collections hit an all-time high of Rs 1,23,902 crore in March, data released by Finance Ministry showed. On a monthly basis GST collections rose by 9.5 per cent from Rs 1,13,143 crore in February. “GST revenues crossed above Rs 1 lakh crore-mark at a stretch for the last six months and a steep increasing trend over this period are clear indicators of rapid economic recovery post pandemic, Finance Ministry said in a press release.
The government settled Rs 21,879 crore to CGST and Rs 17,230 crore to SGST from IGST as a regular settlement. In addition, Centre has also settled Rs 28,000 crore as IGST ad-hoc settlement in the ratio of 50:50 between Centre and States/UTs. ....

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