GST REVENUE REMAINS ABOVE ₹1L CR IN MAY

The Goods and Services Tax (GST) collection in May 2021 remained above the ₹1 lakh crore mark despite many parts of the country were hit by a devastating second wave of Covid-19 pandemic that led to lockdowns in key business centres in Maharashtra and Delhi from April this year.

The GST revenue in May -which reflects the actual business activities of previous month -- however, fell by over 27% at ₹1,02,709 crore compared to the record collections of ₹1,41,384 crore in April (reflecting actual business transactions of March 2021). Thus, the GST collections maintained the ₹1 lakh crore benchmark trend for the eighth consecutive month.

“The revenues for the month of May 2021 are 65% higher than