GST Collections For May Fall Below Rs 1 Lakh Crore

Indian two thousand and five hundred rupee banknotes are arranged for a photograph in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

GST Collections For May Fall Below Rs 1 Lakh Crore

The government’s goods and services tax collection fell below Rs 1 lakh crore for the first time in eight months as the second wave of Covid-19 infections stalled the nascent economic activity.

GST revenue for May, collected in June, stood at Rs 92,849 crore, according to a statement from the Ministry of Finance. That’s almost 10% below the Rs 1.03 lakh crore collected in April, but 2% higher than the year-ago period.

Monthly collections had stayed above Rs 1 lakh crore since October last year till April 2021.

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