GST collections fall to an 8-month low in May; exceed Rs 1 trillion-mark

With the economic activity disrupted due to the second Covid-19 wave, the goods and services tax (GST) collections moderated to an eight-month low in May but remained over the Rs one trillion mark for the eighth straight month owing to tightened compliance measures.

The goods and services tax collection stood at Rs 1.02 trillion in May compared with a record high of Rs 1.41 trillion in April and Rs 1.24 trillion in March, data released by the ministry of finance showed on Saturday. These GST figures pertain to transactions done in April, but collected in May. The collections in May