GST receipts defied a two-month upward trend in May, reaching nearly Rs 1.41 lakh crore, a 44 percent rise year over year. Despite the fact that May GST revenues were lower than the record high of Rs 1.68 lakh crore in April and Rs 1.42 lakh crore in March, they are still the fourth highest since the new indirect tax regime was implemented on July 1, 2017.

Revenues from taxes on the sale of goods and services were Rs 1.33 lakh crore in February, up from Rs 1,40,986 crore in January. "The gross GST revenue collected in the month of May 2022 is Rs 1,40,885 crore, of which CGST is Rs 25,036 crore, SGST is Rs 32,001 crore, IGST is Rs 73,345 crore (including Rs 37,469 crore collected on import of goods), and cess is Rs 10,502 crore (including Rs 931 crore collected on import of goods)," according to a statement from the Finance Ministry.

The GST receipts in May 2022 are 44 percent higher than the same month last year, when it was Rs 97,821 crore. Since the start of GST, the monthly GST collection has crossed the Rs 1.40 lakh crore barrier for the fourth time.

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