May GST collections beat pandemic blues; remain over Rs 1L cr-mark

Source From: IANS 2021-06-05 22:23:12

India's gross Good and Services Tax (GST) revenue collections remained above the psychological mark of Rs 1 lakh crore, clocking a high of Rs 1,02,709 crore in May 2021, beating all the expectations of lower collections in the wake of the disruptions caused by the second wave of the Covid-19 pandemic.

Though the GST revenues in May 2021 are lower than the record Rs 1.41 lakh crore collections made in the previous month, the highest since the introduction of the tax in 2017, they are still significant as most tax experts had feared that the real impact of the pandemic and the lockdowns in different parts of the country would pull down GST collections significantly in May.