Guwahati: The gross GST revenue collection for May 2022 has increased by 44% year on year.

The revenues for the month of May 2022 are 44 percent more than the GST collections of 97,821 crore in the same month last year. Revenues from imports of products were 43 percent higher during the month, while revenues from domestic transactions (including imports of services) were 44 percent higher than in the same month previous year.

In fact, this is just the fourth time that monthly GST collection has exceeded Rs.1.40 lakh crore since the start of GST, and the third month in a row since March 2022.

In the month of May 2022, the gross GST income collected is 1,40,885 crore, of which CGST is 25,036 crore, SGST is 32,001 crore, IGST is 73,345 crore (including 37469 crore received on import of goods), and cess is 10,502 crore (including 931 crore collected on import of goods).

From IGST, the government has deposited 27.924 crore to CGST and 23.123 crore to SGST. After normal settlement, the total income of the Centre and the States in May 2022 is 52,960 crore for CGST and 55,124 crore for SGST. Furthermore, the Centre has issued GST compensation of Rs.86912 crores to States and UTs on May 31, 2022.