Meghalaya has registered a 23 per cent increase in Good & Services Tax (GST) revenue collected in the month of May 2023 as compared to the same month in 2022.
According to the data provided by the Finance Ministry, in May this year, the State collected Rs 214 crore of GST revenue.
It also mentioned that GST revenue collected in May last year was only Rs 174 crore.
Overall in the country, the gross revenue collected in the month of May this year is Rs 1,57,090 crore of which CGST is Rs 28,411 crore, SGST is Rs 35,828 crore, IGST is Rs 81,363 crore (including ₹41,772 crore collected on import of goods) and cess is Rs 11,489 crore (including Rs 1,057 crore collected on import of goods).
The revenues for the month of May 2023 are 12 per cent higher than the GST revenues in the same month last year. During the month, revenue from import of goods was 12 per cent higher and the revenues from domestic transactions (including import of services) were 11 per cent higher than the revenues from these sources during the same month last year.
The government has settled Rs 35,369 crore to CGST and Rs 29,769 crore to SGST from IGST. The total revenue of Centre and the states in the month of May 2023 after regular settlement is Rs 63,780 crore for CGST and Rs 65,597 crore for the SGST.
