2 weeks ago
106
May 01, 2024 01:24 PM IST
After accounting for refunds, the net GST revenue for April 2024 stood at ₹1.92 lakh crore, reflecting an impressive 17.1% growth compared to the same period last year
The country’s gross GST collections hit a record high of ₹ 2.10 lakh crore in April, growing 12.4 per cent year on year driven by a strong increase in domestic transactions and imports.
The collection was over ₹1.78 lakh crore last year, while it was ₹1.87 lakh crore in April, 2023. (Representative file photo) GST collections breach landmark milestone of ₹2 lakh crore, the finance ministry said in a statement.
HT launches Crick-it, a one stop destination to catch Cricket, anytime, anywhere. Explore now!
“The Gross Goods and Services Tax (GST) collections hit a record high in April 2024 at ₹2.10 lakh crore. This represents a significant 12.4%-on-year growth, driven by a strong increase in domestic transactions (up 13.4 per cent) and imports (up 8.3%),” the ministry said.
The collection was over ₹1.78 lakh crore last year, while it was ₹1.87 lakh crore in April, 2023.
After accounting for refunds, the net GST revenue for April 2024 stood at ₹1.92 lakh crore, reflecting an impressive 17.1% growth compared to the same period last year.
In April, Central GST collection was ₹43,846 crore; State GST was ₹53,538 crore; Integrated GST was ₹99,623 crore, including ₹37,826 crore collected on imported goods. Cess collection was ₹13,260 crore, including ₹1,008 crore collected on imported goods.
Discover the pivotal moments that shaped India's electoral journey on the Eras section of our exclusive Elections product. Access all content absolutely free on the HT App. Download now!
Stay informed on Business News along with Gold Rates Today, India News and other related updates on Hindustan Times Website and APPs
