GST mop-up tops Rs 1.02 lakh crore in May, 65% higher compared to 2020

In addition, while the taxpayers with turnover above Rs 5 crore had to file their returns by June 4, which they would have otherwise filed by May 20, smaller taxpayers with turnover less than Rs 5 crore still have time till first week of July to file the returns without any late fee and interest, and the revenue from these taxpayers is deferred till then.

GST tax collections remained above Rs 1 lakh crore mark for the eighth straight month in May, indicating that the impact of the devastating second wave of Covid infections on the economy may have been limited. Tax collections on sale of goods and rendering of services in May at Rs 1.02 lakh crore were 27 per cent lower than April 2021, but 65 per cent higher than May 2020 when the nation was under complete lockdown, impacting economic activity. "The gross GST revenue collected in the month of May 2021 is Rs 1,02,709 crore of which CGST is Rs 17,592 crore, SGST is Rs 22,653, IGST is Rs 53,199 crore (including Rs 26,002 crore collected on import of goods) and Cess is Rs 9,265 crore (including Rs 868 crore collected on import of goods)," the finance ministry said in a statement.