CURRENT AFFAIRS

Detailed explanation-1: -GST revenue for May stood at nearly Rs 1.41 lakh crore , a 44 per cent increase over the same month last year, the Finance Ministry said on Wednesday.

Detailed explanation-2: -Revenues in the current financial year upto January 2023 24% higher than the GST revenues during the same period last year. Rs 36,730 crore, IGST is Rs 79,599 crore (including Rs 37,118 crore collected on import of goods) and cess is Rs 10,630 crore (including Rs 768 crore collected on import of goods).

Detailed explanation-3: -The gross GST revenue collected in the month of May 2022 is ₹1,40,885 crore of which CGST is ₹25,036 crore, SGST is ₹32,001 crore, IGST is ₹73,345 crore (including ₹ 37469 crore collected on import of goods) and cess is ₹10,502 crore (including ₹931 crore collected on import of goods).

Detailed explanation-4: -The total GST collection in India 2021-22 or annual GST collection in India for FY 2021-22 was Rs. 14,76,000 crore. Below is the year wise GST collection since the inception of GST.

Detailed explanation-5: -The gross GST revenue collected during December 2022 is Rs 1,49,507 crore, of which CGST is Rs 26,711 crore, SGST is Rs 33,357 crore, IGST is Rs 78,434 crore (including Rs 40,263 crore collected on import of goods) and Cess is Rs 11,005 crore (including Rs 850 crore collected on import of goods).