GST collection crosses Rs 1 trillion for third straight month in May

Despite a steady collection rate, the government faces a steep Budget target of Rs 6.1 trillion for CGST for 2019-20

Goods and services tax (GST) collection crossed Rs 1 trillion for a third straight month in May, posting over 6 per cent growth year-on-year, but revenue collection might still pose a challenge for the new finance minister, Nirmala Sitharaman, with the Central GST target for FY20 being 35 per cent higher than the last year.

Indicating the stabilisation of the two-year-old indirect tax regime, the gross GST collection in May stood at Rs 1 trillion (Rs 1,00,289 crore) as against Rs 94,016 crore in May 2018, according to a release by the finance ministry on Saturday. It was, however, lower than