GST revenue in May clocks 12% y-o-y growth

Monthly GST revenues more than ₹1.4 lakh crore for 14 months in a row, with ₹1.5 lakh crore crossed for the 5th time since inception of GST

GN Bureau | June 1, 2023


#GST   #revenue   #economy   #business   #finance ministry  


The gross Good & Services Tax (GST) revenue collected in the month of May, 2023 is ₹1,57,090 crore of which CGST is ₹28,411 crore, SGST is ₹35,828 crore, IGST is ₹81,363 crore (including ₹41,772 crore collected on import of goods) and cess is ₹11,489 crore (including ₹1,057 crore collected on import of goods).

The government has settled ₹35,369 crore to CGST and ₹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 ₹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.

For a chart showing trends in monthly gross GST revenues during the current year, click here: https://pib.gov.in/PressReleasePage.aspx?PRID=1929031 The table shows the state-wise figures of GST collected in each State during the month of May 2023 as compared to May 2022.

 

Comments

 

Other News

Major gold smuggling & melting syndicate busted in Mumbai

The Directorate of Revenue Intelligence (DRI) has cracked down on a major gold-smuggling syndicate in Mumbai under `Operation Bullion Blaze`. The operation uncovered an organised racket involved in smuggling gold into India, melting it in covert furnaces, and illicitly selling the refined bullion into the

Those behind Delhi blast will be brought to justice: PM

In his first remarks on the Delhi blast of Monday evening, prime minister Narendra Modi has said that those behind it will be brought to justice. “Our agencies will investigate the conspiracy. The conspirators will not be spared,” he said on Tuesday while delivering his speech in

Proposed: Mandatory ‘Country of Origin’ filter on E-Commerce platforms

The Department of Consumer Affairs of the central government has issued the Draft Legal Metrology (Packaged Commodities) (Second) Amendment Rules, 2025, proposing to make it mandatory for e-commerce platforms to provide searchable and sortable filters based on the `Country of Origin` for packaged commoditi

Experts call for stronger communication of air pollution science

Experts have emphasized the urgent need to improve how scientific evidence on air pollution is communicated to policymakers and the public to spur meaningful health and policy action. They were participating in a webinar titled “Communicating Air Pollution Science for Public Health Act

Maharashtra to partner with Starlink for satellite-based internet

In a step toward inclusive digital transformation, the Maharashtra government has signed a Letter of Intent (LOI) with Starlink Satellite Communications Private Limited. With this, Maharashtra becomes the first Indian state to formally collaborate with Starlink to deploy satellite-based internet services f

Young Birders’ Month: A nationwide celebration inspiring budding nature explorers

This November, children and young people across India are embarking on a joyful exploration of birds and nature as part of Young Birders’ Month (YBM) - a first-of-its-kind, month-long campaign created to spark curiosity and ecological awareness among young minds. This initiative is organized collabor

Visionary Talk: Amitabh Gupta, Pune Police Commissioner with Kailashnath Adhikari, MD, Governance Now





Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter