GST collections cross Rs 1.40 lakh crore in May

An official note said the government has settled Rs 27,924 crore to CGST and Rs 23,123 crore to SGST from IGST. The total revenue of the Centre and the states in the month of May 2022 after the regular settlement is Rs 52,960 crore for CGST and Rs 55,124 crore for the SGST. In addition, the Centre has also released GST compensation of Rs 86912 crores to states and UTs on 31 May.