Ministry of Finance has declared the gross GST Revenue details on 5th June 2021 for the month of May 2021. The gross GST revenue collected in the month of May 2021 stood at Rs. 1,02,709 crores.
This would be eighth month in a row that GST revenues have crossed ₹ 1 lakh crore mark. 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 covid pandemic second wave.
The revenues for the month of May 2021 are 65% higher than the GST revenues in the same month last year. During the month, revenues from import of goods was 56% higher and the revenues from domestic transaction (including import of services) are 69% higher than the revenues from these sources during the same month last year.