India's Goods and Services Tax (GST) revenue for December 2024 reached an impressive Rs 1.77 lakh crore, showing a 7.3% increase from the previous year. This growth is attributed to improved economic resilience, better compliance through digitisation, and stricter enforcement measures. While most states saw positive growth, with Haryana and Sikkim showing significant increases, some experienced declines. Notably, GST refunds saw a substantial rise, particularly for exports, indicating strong international trade performance.
India's gross GST revenue for December 2024 reached Rs 1,76,857 crore, marking a 7.3% increase compared to December 2023's Rs 1,64,882 crore. This growth reflects India's sustained economic resilience and improved compliance levels, driven by continued digitization and stricter enforcement measures.
Key Highlights
1. Domestic GST Revenue Growth
Domestic gross revenue stood at Rs 1,32,589 crore, showing an 8.4% year-on-year growth.
CGST and SGST collections grew to Rs 32,836 crore and Rs
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FAQ :
The total gross GST revenue collected in December 2024 was Rs 1,76,857 crore.
The GST collection in December 2024 was 7.3% higher than the Rs 1,64,882 crore collected in December 2023.
Among large states, Haryana recorded the highest growth with a 28% increase, while Sikkim saw a remarkable 30% surge.
Total GST refunds increased by 45.3% year-on-year to Rs 22,490 crore in December 2024, with export-related refunds rising by 64.5%.
The year-to-date GST collections for 2024-25 have reached Rs 16,33,567 crore, an increase of 9.1% from the previous year.