The Goods and Services Tax (GST) revenue for June 2024 showed a healthy increase compared to the previous year. Gross GST revenue reached £173,813 crore, marking a 7.63% rise. Net GST revenue also saw growth, totalling £153,867 crore, up by 6.28% year-on-year. This indicates a positive trend in tax collections for the period.
Gross and net GST revenue collections for the month of June, 2024
GST Gross and Net Collections (Amount in crores)
Monthly
Annual
GST Collections
June 23
June 24
% Growth
YTD June 2023
YTD June 2024
% Growth
A
B
C
D = C/B-1
E
F
G = F/E-1
A.1. Domestic
CGST
31,013
32,627
97,864
1,08,882
SGST
38,292
40,715
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FAQ :
The total gross GST revenue for June 2024 was £173,813 crore.
The net GST revenue for June 2024 amounted to £153,867 crore.
Gross GST revenue saw a growth of 7.63% in June 2024 compared to June 2023.
Net GST revenue grew by 6.28% in June 2024 compared to June 2023.
Gross domestic GST revenue for June 2024 was £132,800 crore, an increase of 9.36% year-on-year.
The total GST refund amount in June 2024 was £19,946 crore, an increase of 19.28% compared to the previous year.