GST collections rise 12% to Rs 1.57 lakh crore in May

The government’s GST collections came in at Rs 1,57,090 crore in May, marking growth of 12 per cent compared with the corresponding period a year ago, according to official data released on Thursday. That made May the fourteenth straight month where collections exceeded the Rs 1.4 lakh crore mark.  

The monthly collections exceeded the Rs 1.5 lakh crore level for a fifth time since the inception of GST, according to an official statement. 

Revenue from the import of goods was 12 per cent higher and the revenues from domestic transactions (including import of services) 11 per cent higher compared with the year-ago period, according to the statement. According to the data released by the Ministry of Finance, revenue from the import of goods increased 12 per cent.

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