The income of dirty goods and services (GST) collected in May 2021 reached Rs 1,02,709 Crore, holding a sign of Crore Lakh ₹ 1 for the eighth month in a row, said the Ministry of Finance was in a statement released on Saturday. However, on the base of the month-month, GST revenue collection declined in May from a record high of time ₹ 1.41 lakh crore registered on April 2021. Of the total dirty GST revenue RS 1,41,384 Crore, The Tax Goods and Services The center (CGST) stands at ₹ 17,592 crore, while good taxes and service services (SGST) reaches Rs 22,653. (Also read: In more than ₹ 1.41 lakh Crore, GST Collection in April Set All-time Record High)
In May, GST revenue collection was lowered because of limiting locking in various states in the midst of the second wave of Pandemic Covid-19. Integrated goods and service tax (IGST) reached Rs 53,199 Crore (including Rs. 26,002 Crore collected on imported goods) and CESS is RS. 9,265 Crore (including Crore ₹ 868 collected on imported goods). During the government’s months set RS 15,014 Crore to CGST and RS 11,653 Crore to SGST from IGST as a regular settlement, the Ministry of Finance said.
Dirty GST income figures include a collection of GST from domestic transactions up to June 4, 2021, because taxpayers are given various steps of relief in the form of neglect or reduction in interest on the submission of delayed returns for 15 days for May 202, in the middle of May curve Covid-19.
During that month, the revenue from imported goods was 56 percent higher, while income from domestic transactions, including import service was 69 percent higher than the income of these sources during the same month.
All taxpayers with turnover more than RS 5 Crore must submit their return on June 4, which should be submitted on May 20, according to the previous schedule. Smaller taxpayers with a turnover of less than Rs 5 Crore time until the first week of July to propose a return without delay and interest costs, and the income from the taxpayer was suspended until then.