Mokokchung, 1 June (MTNews): The finance ministry has reported a 6% year on year growth in Goods and Services Tax (GST) for Nagaland, reaching around Rs 52 crore compared to Rs 49 crore between May 2022 and 2023. Furthermore, the GST collection for the entire country in May increased by 12% to reach Rs 1.57 lakh crore.
In May 2023, the total gross GST revenue collected amounted to Rs 1,57,090 crore. This includes Rs 28,411 crore for Central GST, Rs 35,828 crore for State GST, Rs 81,363 crore for Integrated GST (which incorporates Rs 41,772 crore collected from imported goods), and Rs 11,489 crore for cess (including Rs 1,057 crore collected from imported goods).
The ministry stated, “During this month, revenue from the import of goods was 12% higher, and the revenues from domestic transactions (including import of services) were 11% higher compared to the same month last year.”