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GST collection for May 2018 is Rs 94,016 crores, slightly lower than April's collection

By Vikas

Finance Secretary Hansmukh Adhia on Friday said that the total GST collection for May 2018 is Rs 94,016 crores. He said that the May 2018's GST collection was higher than average monthly collection of Rs 89,885 crores of 2017-18.

"This reflects better compliance after introduction of e-way bills," he said.

File photo of Finance Secretary Hansmukh Adhia

"The number Returns filed for the month of April upto 31st May is 62.46 lakhs as against 60.47 lakhs filed for March till 30th April," Adhia said in a tweet.

The May GST collection is, however, a tad lower than April 2018's GST collection, which was Rs 1.03 lakh crore. April's GST collection was highest since the new tax regime was rolled out on July 1 last year. March 2018's GST collection was Rs 89,264 crore.

The buoyancy in the tax revenue of GST reflects the upswing in the economy and better compliance, the ministry had said after announcing April's GST collection figures.

[In a first, GST revenue collection for a month exceeds Rs 1 lakh crore]

However, it is usually noticed that in the last month of financial year, people also try to pay arrears of some of the previous months also and, therefore, April 2018 revenue cannot be taken as trend for the future, it had then said.

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