GST collections stay above ₹2 lakh cr in May

Gross GST revenue up 16.4%; robust mop-up for 2nd month in a row; double-digit growth in several large states

- DIPAK MONDAL @New Delhi

IF May GST collection—tax collected for April transactions—are anything to go by, India's economy started the financial year with a bang despite the disruptions caused by US president Donald Trump's threat of reciprocal tariffs.

Gross monthly GST collections in May rose by 16.5% to touch ₹2.01 lakh crore—only the third time since the indirect tax regime came into force in July 2017. Gross domestic revenue rose by 14% to ₹1.5 lakh crore, while revenue from imports increased by 25% to ₹51,000 crore.

Net GST revenues (after deducting refunds from gross collections) showed even better buoyancy as the same increased by 20.4% to ₹1.74 lakh crore. Total refunds contracted by 4% year-on-year.