May 2024 GST collections at Rs 1.73 lakh crore; up 10% year-on-year

GST Collections May 2024: The Goods and Services Tax (GST) revenue for May 2024 reached Rs 1.73 lakh crore, marking a 10% increase compared to the same month last year. This growth was primarily attributed to a substantial rise in domestic transactions (15.3%) and a decrease in imports (4.3%). The net GST revenue, after accounting for refunds, amounted to Rs 1.44 lakh crore, showing a 6.9% growth…