GST collections in May drop to lowest level since September 2020
The Hindu
The ₹1,02,709 crore collected as GST in May includes revenues from domestic transactions till June 4.
India’s Gross GST revenue in May fell to ₹1.02 lakh crore in May 2021, from a record ₹1.41 lakh crore in April, but the number is likely to be revised upwards, the government said on Saturday. The May 2021 GST collections are the lowest since September 2020, which had recorded a revenue of ₹95,480 crore, and are in step with declines recorded in several economic indicators in May due to the second COVID-19 wave and mobility restrictions. The Finance Ministry said this is the eighth month in a row that GST revenues have crossed ₹1 lakh crore mark ‘despite the fact that most of the States have been under strict lockdown due to the pandemic’.
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