The Ministry of Finance has informed that the gross GST revenue collected in the month of May 2022 is Rs 1,40,885 crore. Out of which CGST is Rs 25,036 crore, SGST is Rs 32,001 crore, IGST is Rs 73,345 crore (including Rs 37,469 crore collected on import of goods) and Cess is Rs 10,502 (including Rs 931 crore collected on import of goods).
Accordingly, Centre has settled Rs 27,924 crore to CGST and Rs 23,123 crore to SGST from IGST. The total revenue of Centre and the States in the month of May 2022 after regular settlement is Rs 52,960 crore for CGST and Rs 55,124 crore for the SGST. In addition, Centre has also released GST compensation of Rs 86,912 crore to States and UTs on 31st May 2022.
Further, the revenues for the month of May 2022 are 44% higher than the GST revenues in the same month last year of Rs 97,821 crore. During the month, revenues from import of goods was 43% higher and the revenues from domestic transaction (including import of services) are 44% higher than the revenues from these sources during the same month last year.
The chart below shows trends in monthly gross GST revenues during the current year.
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