GST Collections Stay Above Rs 1.4 Lakh Crore For Third Time In A Row
The GST collections for April, collected in May, stood at Rs 1,40,885 crore.
The government’s goods and service tax revenue remained above Rs 1.4 lakh crore for the third straight month.
The GST collections for April, collected in May, stood at Rs 1,40,885 crore, according to a statement by the finance ministry. That is an increase of 44% over the year earlier but a decline of 15.9% from the previous month.
Revenue from import of goods was 43% higher and the revenue from domestic transaction (including import of services) was 44% higher than the year earlier, the statement said.
Break-Up Of GST Collection
Central GST: Rs 25,036 crore
State GST: Rs 32,001 crore
Integrated GST: Rs 73,345 crore, including Rs 37,469 crore collected on import of goods.
Cess: Rs 10,502 crore, including Rs 931 crore collected on import of goods.
GST collections are always released with one-month lag.
The collections in May, which actually pertain to the returns of the previous month April, tend to be lesser than the returns of March (collected in April) as March marks the end of the financial year.
The collections in April (pertaining to March) were the highest ever collection recorded by the finance ministry at Rs 1.67 lakh crore.
The total number of e-way bills generated in April 2022 was 7.4 crore compared with 7.7 crore in March.
Maharashtra Leads
Collections in Kerala jumped 80% over the year earlier, the most among major states, at Rs 2,064 crore. It was on a low base due to the pandemic.
The quantum of collections, however, was the highest in Maharashtra at Rs 20,313 crore against Rs 13,565 crore a year ago.
Gujarat (Rs 9,321 crore), Karnataka (Rs 9,232 crore) and Uttar Pradesh (Rs 6,670 crore) were other top-earning states.