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New Delhi: The country’s Gross Goods and Services Tax (GST Collections) has reached a record level of Rs 2.10 lakh crore in April. This represents an increase of 12.4 percent over the previous year due to strong growth in domestic transactions and imports. Giving this information in a statement, the Finance Ministry said that GST collections have crossed the historic milestone of Rs 2 lakh crore.
👉 #GST revenue collection for April 2024 highest ever at Rs 2.10 lakh crore
👉 #GST collections breach landmark milestone of ₹2 lakh crore
👉 Gross Revenue Records 12.4% y-o-y growth
👉 Net Revenue (after refunds) stood at ₹1.92 lakh crore; 17.1% y-o-y growth
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— Ministry of Finance (@FinMinIndia) May 1, 2024
The ministry said gross goods and services tax (GST) collections have reached a record high of Rs 2.10 lakh crore in April 2024. This is a significant increase of 12.4 per cent year-on-year, driven by strong growth in domestic transactions by over 13.4 per cent and imports growing by 8.3 per cent. Last year GST collections were more than Rs 1.78 lakh crore, while in April 2023 it was Rs 1.87 lakh crore.
Net GST revenue for April 2024 after ‘refund’ stood at Rs 1.92 lakh crore, showing an impressive growth of 17.1 percent compared to the same period last year. Central GST collections in April stood at Rs 43,846 crore and state GST collection stood at Rs 53,538 crore. Integrated GST stood at Rs 99,623 crore, which includes Rs 37,826 crore collected on imported goods. At the same time, cess collection stood at Rs 13,260 crore, which includes Rs 1,008 crore collected on imported goods.
