Gross and Net GST Revenue Collections for the month of June 2024



Quick Summary
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

June 2024 GST Revenue: Gross and Net Collections Rise

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

1,21,532

1,34,518

IGST

41,256

47,270

1,35,033

1,56,968

CESS

10,872

12,188

32,427

35,648

Gross Domestic Revenue

1,21,434

1,32,800

9.36%

3,86,856

4,36,016

12.71%

A.2. Imports

IGST

39,035

40,040

1,15,779

1,17,746

CESS

1,028

972

2,986

3,056

Gross Imports Revenue

40,063

41,012

2.37%

1,18,765

1,20,802

1.72%

A.3. Gross GST Revenue(A.1+A.2)

CGST

31,013

32,627

97,864

1,08,882

SGST

38,292

40,715

1,21,532

1,34,518

IGST

80,292

87,310

2,50,813

2,74,714

CESS

11,900

13,160

35,414

38,704

Total Gross GST Revenue

1,61,497

1,73,813

7.63%

5,05,622

5,56,818

10.13%

B.1. Domestic Refunds

CGST

2,246

2,898

8,323

8,787

SGST

2,735

3,694

10,213

11,035

IGST

4,244

4,337

15,615

13,423

CESS

150

243

491

775

Refund - Domestic

9,376

11,173

19.16%

34,643

34,021

-1.80%

B.2. Export GST Refunds

IGST

7,252

8,604

24,645

32,248

CESS

93

169

431

467

Refund - Imports

7,345

8,773

19.44%

25,077

32,716

30.46%

B.3. Total Refund (B.1+B.2)

CGST

2,246

2,898

8,323

8,787

SGST

2,735

3,694

10,213

11,035

IGST

11,496

12,941

40,260

45,671

CESS

243

413

923

1,243

Total Refund

16,721

19,946

19.28%

59,720

66,737

11.75%

C.1 Net Revenue Domestic (A.1 - B.1)

CGST

28,766

29,730

-

89,540

1,00,094

SGST

35,558

37,020

-

1,11,319

1,23,483

IGST

37,012

42,933

-

1,19,418

1,43,545

CESS

10,722

11,945

-

31,936

34,872

Net Domestic Revenue

1,12,058

1,21,628

8.54%

3,52,213

4,01,995

14.13%

C.2 Net Revenue Imports (GST) (A.2 - B.2)

IGST

31,783

31,437

-

91,134

85,498

CESS

935

803

-

2,555

2,589

Net Imports Revenue

32,718

32,239

-1.46%

93,689

88,087

-5.98%

C.3 Net Revenue (C.1+C.2))

CGST

28,766

29,730

89,540

1,00,094

SGST

35,558

37,020

1,11,319

1,23,483

IGST

68,795

74,369

2,10,552

2,29,043

CESS

11,657

12,747

34,491

37,461

Total Net GST Revenue

1,44,776

1,53,867

6.28%

4,45,902

4,90,082

9.91%

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.




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