GST revenue collection for May touches Rs 1.02 lakh crore, 65% higher compared to 2020

Gross GST revenue collected in May of this year was higher than Rs 1 lakh crore for the eighth month in a row, according to data released by the government.

GST revenue collection for the month of May, 2021, touched Rs 1,02,709 crore. Data released on Saturday shows that this was the eighth month in a row when gross Goods and Services Tax (GST) revenue collected was higher than Rs 1 lakh crore. "The above figure includes GST collection from domestic transactions till 4th of June since taxpayers were given various relief measures in the form of waiver/reduction in interest on delayed return filing for 15 days for the return filing month May’21 in the wake of the Covid pandemic second wave," said a statement by the Ministry of Finance. However, on a month-on-month basis, the GST revenue collection declined in May from the all-time record high of Rs 1.41 lakh crore registered in April of this year.