: Gross GST revenue collection up by 44% at Rs 1,40,885 cr #FinanceIndia #StockMarketNEWS Gross GST revenue collection up by 44% at Rs 1,40,885 cr New Delhi, June 1 (KNN) For the month of May 2022,

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Gross GST revenue collection up by 44% at Rs 1,40,885 cr #FinanceIndia #StockMarketNEWS
Gross GST revenue collection up by 44% at Rs 1,40,885 cr New Delhi, June 1 (KNN) For the month of May 2022, the gross GST has recorded an increase of 44 per cent at Rs 1,40,885 crore out of which the CGST is Rs 25,036 crore, SGST is Rs 32,001 crore, IGST is Rs 73,345 crore and cess is Rs 10,502 crore.

The 44 per cent increase is when compared to the GST revenues of the same month last year of Rs 97,821 crore.

The total revenue collected by the Centre and the States marks a total of Rs 52,960 crore for CGST and Rs 55,124 crore for the SGST.

The government has settled Rs 27,924 crore to CGST and Rs 23,123 crore to SGST from IGST. On May 31, the central government has also released a GST compensation of Rs 86912 crore to States and UTs.

During the month, revenues from import of goods was 43 per cent higher and the revenues from domestic transaction (including import of services) are 44 per cent higher than the revenues from these sources during the same month last year.

The GST revenue collection of May 2022 is only the fourth time since inception of the GST and third month at a stretch since March that the collection has crossed Rs 1.40 lakh crore.

Total number of e-way bills generated in the month of April 2022 was 7.4 crore, which is 4 per cent lesser than 7.7 crore e-way bills generated in the month of March 2022. (KNN Bureau)