Kicking the month-on-month expanding pattern of the most recent two months, the Goods and Services Tax (GST) incomes came in lower than the record high assortment in April at Rs 1.68 lakh crore.
GST income for May remained at almost Rs 1.41 lakh crore, a 44 percent expansion over that very month last year, the Finance Ministry said on Wednesday.
Kicking the month-on-month expanding pattern of the most recent two months, the Goods and Services Tax (GST) incomes came in lower than the record high assortment in April at Rs 1.68 lakh crore.
In March GST incomes were at Rs 1.42 lakh crore, while in February it was Rs 1.33 lakh crore.
The gross GST income gathered in the long stretch of May 2022 is Rs 1,40,885 crore of which CGST is Rs 25,036 crore, SGST is Rs 32,001 crore, IGST is Rs 73,345 crore (counting Rs 37469 crore gathered on import of products) and cess is Rs 10,502 crore (counting Rs 931 crore gathered on import of merchandise),” Ministry said in an explanation.
The incomes for the long stretch of May 2022 are 44 percent higher than the GST incomes around the same time last year at Rs 97,821 crore.
This is the fourth time that the month to month GST assortment has crossed Rs 1.40 lakh crore mark starting from the origin of GST and the third consecutive month since March 2022.
The assortment in May, which relates to the profits for April — the primary month of the monetary year — has forever been not exactly that in April, which relates to the profits for March, the end of the monetary year.
Nonetheless, it is empowering to see that even in the long stretch of May 2022, the gross GST incomes have crossed the Rs 1.40 lakh crore mark, the Ministry said.
The complete number of e-way charges created in the long stretch of April 2022 was 7.4 crore, which is 4% lesser than 7.7 crore e-way charges produced in the period of March 2022.