India's gross GST revenue collection in the month of May stood at Rs 1,57,090 crore, registering a rise of 12 per cent on a year-on-year basis, the Ministry of Finance said on Thursday.
India in April saw a record-high GST collection of Rs 1.87 lakh crore.
With this, the monthly GST revenue has come in at more than Rs 1.4 lakh crore for the 14th consecutive month. The gross revenue has crossed the 1.5 lakh crore mark for the fifth time since the inception of GST in the country.
Of the total gross GST revenue 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 Centre has settled Rs 35,369 crore to CGST and Rs 29,769 crore to SGST from IGST. The total revenue of the Centre and the states in May after regular settlement is Rs 63,780 crore for CGST and Rs 65,597 crore for the SGST, the ministry said in a press release.
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, the ministry added.
Source Name:Economic Times