April GST inflow at elevated Rs 1.4 lakh crore, fails to touch March record

Sandeep Dikshit 

New Delhi, June 1

Gross GST revenue in May at Rs 1.41 lakh crore failed to touch the previous month’s record high but was still the fourth highest since the system was put in place.

The total number of e-way bills generated in the month of April was 7.4 crore, four per cent lesser than 7.7 crore e-way bills generated in the month of March, 2022.

The government has settled Rs 27,924 crore to the CGST and Rs 23,123 crore to the SGST from the IGST.

The total revenue of Centre and the states in the month of May, 2022 after regular settlement is Rs 52,960 crore for the CGST and Rs 55,124 crore for the SGST.

The Centre has released GST compensation of Rs 86,912 crore to the states and UTs on May 31, 2022.

The revenues for the month of May, 2022 are 44 per cent than the GST revenues in the same month last year of Rs 97,821 crore.

During May, the revenues from import of goods were 43 per cent higher and the revenues from domestic transaction (including import of services) were 44 per cent higher than the revenues from these sources during the same month last year.

This is only the fourth time the monthly GST collection crossed Rs 1.4 lakh crore mark since inception of the GST and the third month at a stretch since March, 2022.

The collection in the month of May, which pertains to the returns for April, the first month of the financial year, has always been lesser than that in April, which pertains to the returns for March, the closing of the financial year.

“However, it is encouraging to see that even in the month of May, the gross GST revenues have crossed the Rs 1.4 lakh crore mark,” said an official news release.