TaxTMI 
TaxTMI 
GST collections above Rs 2 trillion for second straight month, at Rs 2.01 lakh cr in May
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....ST collections above Rs 2 trillion for second straight month, at Rs 2.01 lakh cr in May<BR>GST<BR>Dated:- 1-6-2025<BR>PTI<BR>New Delhi, Jun 1 (PTI) Gross GST collections remained above the Rs 2 trillion mark for the second month in a row, rising 16.4 per cent in May to over Rs 2.01 lakh crore. Goods and Services Tax (GST) collection had touched a record high of Rs 2.37 lakh crore in April. In Ma....
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....y, 2024, the mop up was Rs 1,72,739 crore. In May, 2025, gross revenues from domestic transactions rose 13.7 per cent to about Rs 1.50 lakh crore, while GST revenue from imports grew 25.2 per cent to Rs 51,266 crore. Total gross GST revenues stood at Rs 2,01,050 crore in May, 2025. Gross Central GST revenues stood at Rs 35,434 crore, State GST revenues at Rs 43,902 crore and Integrated GST at ....
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....about Rs 1.09 lakh crore. Revenues from Cess was at Rs 12,879 crore. Total refunds issued during the month dipped 4 per cent to Rs 27,210 crore. Net GST mop-up in May stood at about Rs 1.74 lakh crore, a 20.4 per cent year-on-year growth. Deloitte India Partner M S Mani said the wide variations in the growth of GST collections across states require a thorough analysis across the sectors that....
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.... are important in each state. While large states like Maharashtra, West Bengal, Karnataka and Tamil Nadu have reported collection increases of 17 per cent to 25 per cent, similar large states like Gujarat, Andhra Pradesh and Telangana have shown increases of up to 6 per cent. Some states like Madhya Pradesh, Haryana, Punjab and Rajasthan have shown median increases of 10 per cent. "Hence, th....
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....e average growth across the country does not appear to be uniformly reflected across states possibly due to sectoral or seasonal factors which require a deeper data based analysis," Mani said. Price Waterhouse & Co LLP Partner Pratik Jain said 16 per cent growth in GST collections in the month shows a renewed upward momentum after a few months of growth in the range of 11 to 12 per cent. "If t....
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....he growth continues in this range for the next couple of months, it might provide the cushion for the government to look at rate rationalization on which a lot of work has already been done," Jain said. EY India Tax Partner Saurabh Agarwal said looking ahead, we might see similar GST collection numbers with slight increases in June because of ongoing geopolitical tensions across the globe. Tax....
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.... Connect Advisory Services LLP Partner Vivek Jalan said with an approx 10 per cent growth in domestic GST revenue and 73 per cent growth in import GST revenues, it is very clear that this month's growth in GST revenue is import driven rather than domestic consumption driven. "This coupled with the fact that exports refunds are not growing correspondingly, reflect the fact that import growth far ....
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....exceeds export growth," Jalan added. PTI JD DRR<BR> News - Press release - PIB....