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India GST Collections Rise 3.2% In May To Rs 1.94 Lakh Crore

Created at 1 Jun · 6:47 AM2 sources↑ Market-relevant2 events
IN SHORT

India's Goods and Services Tax (GST) collections for May reached Rs 1.94 lakh crore, marking a 3.2% increase year-on-year. This growth reflects robust economic activity and tax compliance.

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Key Numbers

Rs 1.94 lakh croreTotal GST collections in May
3.2%Year-on-year increase in GST collections
Rs 1.11 lakh croreIntegrated GST collected
Rs 37,397 croreCentral GST collected
Rs 45,143 croreState GST collected

Who's Involved

Indian Government
Collected Goods and Services Tax (GST)

↳ Why This Matters

Goods and Services Tax (GST) collections are a key indicator of economic activity and tax compliance within India. An increase in GST revenue suggests robust consumption and business activity, reflecting the overall health of the Indian economy. These collections are crucial for government revenue and funding public services.

Key facts

  • India's GST collections in May were Rs 1.94 lakh crore.
  • This represents a 3.2% increase compared to the previous year.
  • Integrated GST amounted to Rs 1.11 lakh crore.
  • Central GST collections were Rs 37,397 crore.
  • State GST collections reached Rs 45,143 crore.

Goods and Services Tax (GST) collections are a key indicator of economic activity and tax compliance within India. An increase in GST revenue suggests robust consumption and business activity, reflecting the overall health of the Indian economy. These collections are crucial for government revenue and funding public services.

Frequently asked questions

India's total GST collections in May were Rs 1.94 lakh crore.

GST collections increased by 3.2% in May compared to the same period last year.

The total collection includes Integrated GST (Rs 1.11 lakh crore), Central GST (Rs 37,397 crore), and State GST (Rs 45,143 crore).

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How It Developed

1 Jun · 6:39 AM
Article confirms May GST collections reached Rs 1.94 lakh crore, a 3.2% year-on-year increase, driven by goods and services supply.
NDTV via PiQSuite
1 Jun · 6:18 AM
India's Goods and Services Tax (GST) collections increased by 3.2% in May, reaching Rs 1.94 lakh crore.
NDTV via PiQSuite

Sources

T1
India's GST Collections Rise 3.2% In May To Rs 1.94 Lakh Crorem.piqsuite.com
T1
Gross GST Collections Rise 3.2% To Rs 1.94 Lakh Crore In Maym.piqsuite.com

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