GST Revenue Climbs to Rs 1.94 Lakh Crore in May Amid Increased Imports

India's May GST collections increased by 3.2% to reach Rs 1.94 lakh crore, driven by improved domestic supplies and expanded import contributions. Net revenues, after refunds, rose by 3.3% to Rs 1.67 lakh crore, sustaining growth trends despite a previous record high in April.

India's Goods and Services Tax (GST) collections in May experienced a 3.2% rise to Rs 1.94 lakh crore, according to government data. The growth reflects enhanced supply of goods and services along with expanded import collections.

During the month, central GST from domestic transactions reached Rs 37,397 crore, state GST at Rs 45,143 crore, and integrated GST on imports stood at Rs 59,654 crore. The domestic demand for goods increased by 26.9%, while the services sector showed a 22.2% growth, indicating strong consumer resilience. Despite a previous peak of Rs 2.43 lakh crore in April, after adjusting for refunds, net GST revenue for May rose by 3.3% to Rs 1.67 lakh crore.