• Source:PTI
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GST Collection:  India's gross GST collection hit a record high of Rs 2.10 lakh crore, up 12.4 percent year-on-year due to strong domestic transactions and import growth in April 2024. The Finance Ministry said that GST collections crossed the Rs 2-lakh crore mark for the first time in history.

"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 percent year-on-year growth, driven by a strong increase in domestic transactions (up 13.4 percent) and imports (up 8.3 percent)," the ministry said.

Last year, the collection was more than Rs 1.78 lakh crore in April, while in April 2023 it was Rs 1.87 lakh crore. After accounting for the refunds, the net GST revenue for April 2024 stood at Rs 1.92 lakh crore, registering a growth of 17.1 percent over the same period last year.

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The central GST collection in April was Rs 43,846 crore; State GST was Rs 53,538 crore; Integrated GST was Rs 99,623 crore, which included Rs 37,826 crore collected on imported goods. Cess collection stood at Rs 13,260 crore, which included Rs 1,008 crore collected on imported goods.

In April, the central government transferred Rs 50,307 crore to CGST and Rs 41,600 crore to SGST from the IGST collected, taking the total revenue to Rs 94,153 crore for CGST and Rs 95,138 crore for SGST.

Maharashtra was at the top with Rs 37,671 crore, it collection grew 13%, followed by Karnataka with Rs 15,978 crore, with a growth of 9% and Gujarat with Rs 13,301 crore, with a growth of 13%. Uttar Pradesh contributed Rs 12,290 crore and registered a growth of 19%, Tamil Nadu collection stood at Rs 12,210 crore and Haryana contributed Rs 12,168 crore and registered a growth of 21%.

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(With PTI Inputs)