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GST collections in May rise 11.5% to ₹1.57 trn

Financial Express Mumbai

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June 02, 2023

Monthly revenues at over ₹1.4 trillion for 14 months in a row

- GROSS GOODS & SERVICES tax (GST) collections grew 11.5% on year to ₹1.57 trillion in May (April transactions), reflecting a healthy beginning to business activities in FY24.

GST collections in May rise 11.5% to ₹1.57 trn

The data showed monthly GST revenues have been more than ₹1.4 trillion for 14 months in a row, with ₹1.5 trillion mark crossed for the 5th time since the rollout of GST in July 2017.

In May, revenue from the import of goods was 12% higher on year while revenues from domestic transactions (including import of services) were up 11% on year.

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