GST collections up 16%, fastest since Oct 2022

Goods and Services Tax (GST) collections in India surged by 16.4% to ₹2.01 lakh crore in May, marking the fastest expansion since October 2022, propelled by a significant increase in import taxes. Collections from imports rose by 25.2%, while domestic sources saw a 13.7% increase. However, state-wise collections varied widely, with some states experiencing declines.