GST revenue collections touch Rs 1,40,885 crore for May 2022
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The Gross Goods and Services Tax, GST revenue collections in the month of May 2022 remained at one lakh 40 thousand and 885 crore rupees. This is the fourth time when the GST collection crossed 1.40 lakh crore mark since its inception and third month at a stretch since March 2022. Of the total GST collection in May this year, Central Goods and Services Tax, CGST collection is over 25 thousand crore rupees, State Goods and Services Tax, SGST is 32 thousand crore rupees.
Integrated Goods and Services Tax, IGST is 73 thousand 345 crore and cess is 10 thousand 502 crore rupees. Finance Ministry said, the revenues for the month of May 2022 are 44 per cent higher than the GST revenues in the same month last year of 97 thousand 821 crore rupees.During the month, revenues from import of goods was 43 per cent higher and the revenues from domestic transaction are 44 per cent higher than the revenues from these sources during the same month last year.
The Finance Ministry mentioned that 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.
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