GST receipts fell 16% in May, to Rs 1.41 lakh crore, from record highs a month before.

This is the 11th month in a row that the overall GST collection has exceeded Rs 1 lakh crore.

According to data issued by the finance ministry on June 1, GST revenues decreased to Rs 1.41 lakh crore in May, down 16 percent from April’s all-time high of Rs 1.68 lakh crore.

 

GST receipts in May were up 44 percent year over year.

 

“The collection in May, which relates to returns for April, the first month of the financial year, has usually been lower than that in April, which relates to returns for March, the last month of the financial year,” the finance ministry said in a statement.

In May, Central GST collected Rs 25,036 crore, State GST collected Rs 32,001 crore, Integrated GST collected Rs 73,345 crore, and compensatory cess collected Rs 10,502 crore.

 

The government paid Rs 27,924 crore to the Central GST and Rs 23,123 crore to the State GST in May as part of the Integrated GST settlement. As a result, the Centre’s total revenue for the month after settlement was Rs 52,960 crore, while State GST revenue was Rs 55,124 crore.

 

This is the 11th month in a row that the overall GST collection has exceeded Rs 1 lakh crore.