The gross goods and services tax (GST) income collected in May 2021 was Rs 1,02,709 crore, maintaining the 1 lakh crore mark for the eighth month in a row, according to a statement released on Saturday by the Ministry of Finance. On a month-to-month basis, however, GST revenue collection fell in May after reaching an all-time high of 1.41 lakh crore in April 2021.
The central goods and services tax (CGST) received Rs 17,592 crore of the total gross GST income of Rs 1,41,384 crore, while the state goods and services tax (SGST) received Rs 22,653 crore. (Also read: GST Collection Sets All-Time High in April With Over 1.41 Lakh Crore). Due to lockdown limitations imposed in many states in response to the second wave of the COVID-19 pandemic, GST income collection fell slightly in May. The integrated goods and services tax (IGST) was Rs 53,199 crore (including Rs 26,002 crore from goods imports) and the cess was Rs 9,265 crore (including Rs 868 crore from goods imports).
According to the finance ministry, the government paid Rs 15,014 crore to the CGST and Rs 11,653 crore to the SGST as usual settlement during the month. Revenues from imports of products were 56% higher during the month, while revenues from domestic transactions, including the import of services, were 69% higher than in the same month previous year.