GST collections reach INR 1.57 trn in May ‘23

The Goods and Services Tax (GST) amount indicated a 12% increase from the same month last year

June 5, 2023

Central GST was INR 28,411 crore

State GST stood at INR 35,828 crore

Integrated GST was INR 81,363 crore

GST collection in May 2022 was approximately INR 1.41 trillion

The collection of GST in May 2023 amounted to INR 1,57,090 crore, indicating a 12% increase compared to the same month last year, according to a statement from the Ministry of Finance. 

Out of this total, INR 28,411 crore was collected as Central GST, INR 35,828 crore as State GST, INR 81,363 crore as Integrated GST (including INR 41,772 crore collected on imported goods), and INR 11,489 crore as cess (including INR 1,057 crore collected on imported goods).

Furthermore, in May 2023, the revenue from imported goods saw a 12% growth, while the revenue from domestic transactions (including import of services) increased by 11% compared to the same period last year.

GST collection in May last year was approximately INR 1.41 trillion. In April 2023, GST collection reached a record high of INR 1.87 trillion.

Source: Financial Express

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