New Delhi: In May 2022, total GST revenue increased by 44% over the previous year to Rs 1,40,885 crore. In Tamil Nadu, GST collection has increased by 41% to Rs 7,910 crore in May 2022 from Rs 5,592 crore in May 2021.
According to the Federal Ministry of Finance:
The total revenue from GST on goods and services stood at Rs 1,40,885 crore in May 2022. Of this, Rs 25,036 crore was levied as central GST, Rs 32,001 crore as state GST, Rs 73,345 crore as consolidated GST (including Rs 37,469 crore levied on imported goods) and Rs 10,502 crore levied on cess (Rs 91) levied on imported goods. Including crore) has been collected.
The government has contributed Rs 27,924 crore to the central GST and Rs 23,123 crore to the state GST from the integrated GST. This was followed by total revenue to the central government of Rs 52,960 crore in May and Rs 55,124 crore to the state GST. Apart from this, the Central Government has released Rs 86,912 crore as GST compensation to the States and Union Territories as on 31.05.2022.
In May 2022, GST revenue increased by 44% over the same period last year. For the fourth time since the introduction of the GST, GST revenue has crossed Rs 1.40 lakh crore.
In Tamil Nadu, GST collection has increased by 41% to Rs 7,910 crore in May 2022 from Rs 5,592 crore in May 2021. In Pondicherry, GST collection has increased by 47% in May 2022 from Rs 123 crore in May 2021 to Rs 181 crore.
Meanwhile, GST collection rose to an all-time high of Rs 1.68 lakh crore in April. It was down 16 percent in May compared to April.