India's gross GST collections hit a record high, crossing the landmark milestone of Rs 2 lakh crore.
The GST collections reported an year-on-year growth of 12.4 per cent at Rs 2.10 lakh crore.
"The Gross Goods and Services Tax (GST) collections hit a record high in April 2024 at Rs 2.10 lakh crore. This represents a significant 12.4 per cent year-on-year growth, driven by a strong increase in domestic transactions (up 13.4 per cent) and imports (up 8.3 per cent)," the finance ministry said.
After accounting for refunds, the net GST revenue for April 2024 stands at RS 1.92 lakh crore, reflecting an impressive 17.1 per cent growth compared to the same period last year, the ministry further said.
The Central Goods and Services Tax (CGST) stood at Rs 43,846 crore, the State Goods and Services Tax (SGST) was Rs 53,538 crore and the Integrated Goods and Services Tax (IGST) was Rs 99,623 crore, including Rs 37,826 crore collected on imported goods;
Cess, including the Rs 1,008 crore collected on imported goods, stood at Rs 13,260 crore.
