NEW DELHI, June 1: Gross Goods and Services Tax (GST) collections increased by 3.2 per cent year-on-year to over ₹1.94 lakh crore in May, driven by improved supplies of goods and services and sustained growth in tax collections from imports.
The gross GST collection stood at more than ₹1.94 lakh crore during the month, compared to ₹1.88 lakh crore in May last year.
Of the total collection, Central GST from domestic transactions amounted to ₹37,397 crore, State GST to ₹45,143 crore and Integrated GST to ₹51,990 crore.
Taxable supplies of goods registered a growth of 26.9 per cent during the period, indicating strong domestic demand, while taxable supplies in the services sector rose 22.2 per cent, reflecting continued resilience in consumption.
GST refunds also recorded growth, increasing by 2.6 per cent to ₹27,281 crore in May. (Agencies)
