GST Collection reaches Rs 2 Lakh Cr Milestone in April; Rs 2.10 Lakh Crore.
The gross GST collection in India reached a new record of Rs 2,10 lakh crores in April. This is a growth of 12.4% year on year
NEW DELHI - The gross GST collection in India reached a new record of Rs 2,10 lakh crores in April. This is a growth of 12.4% year on year, driven by an increase in both domestic transactions and imported goods.
The Finance Ministry announced in a press release that GST collections have exceeded a landmark of Rs 2 lakh billion.
The Gross Goods and Services tax (GST), which is the total amount collected, reached a new record in April 2024. It was Rs 2,10 lakh crore. The ministry reported that this represents a 12.4% growth year-on-year, driven by an increase in both domestic transactions (up 13.4%) and imports (8.3%).
In April 2023, the collection will be Rs 1,87 lakh crore, compared to Rs 1.78 lakh crore for last year.
After accounting for refunds the net GST revenue in April 2024 was Rs 1,92 lakh crore. This represents a 17.1% increase compared to last year's same period.
In April, central GST collections were Rs 43,846 billion; state GST collections were Rs 53,538 billion; and integrated GST was Rs 99.623 milliards, including Rs 37.826 on imported goods. Cess collection in April was Rs 13,260 billion, including Rs 1,000 crore on imported goods.
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