Business news

GST mop-up crosses Rs 1 lakh crore in May

GST collection in July stands at Rs 1,02,083 crore

The GST revenue collection has crossed one lakh crore rupees in May this year, which is a growth of 6.67 per cent over the revenue collected in the same month last year. The GST collected during last month was 1,00, 289 crore rupees as compared to 94,016 crore rupees in the same period of last year.

Finance Ministry in a statement said, a total of 72.45 lakh GSTR-3B returns were filed in the month of May. An amount of 18,934 crore rupees has also been released to the states as GST compensation for the months of February-March, 2019.

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