GST May Collection crossed One lakh crore; shown a consistent growth

GST May Collection crossed One lakh crore; shown a consistent growth

The Tax Collection in April, 2019 has been the highest ever in a particular month i.e. Rs. 1,13,865 crore since GST implementation. It is usually noticed that there will be a jump in the tax collection in the last month of Financial Year as tax payers try to pay arrears of some of the previous months and, therefore, this months revenue cannot be taken as trend for the future. Although, the GST collections for May, 2019 have been Rs. 1,00,289 crore, GST collection has shown a consistent growth trend over the last two years. The month-on-month growth in GST collection has been 10.1% and 6.7% for April and May respectively.

 The number of Returns filed till due date (20th of the next month) for the month of May, 2019 was 65,18,408 (63.37%) as compared to 60,61,978 (59.24%) for the month of April, 2019