India's Goods and Services Tax (GST) collections for August 2024 have shown a robust performance, reaching a total of £1.75 lakh crore. This represents a significant 10% increase compared to the same period last year. The data indicates a healthy growth in domestic revenue, with imports also contributing positively to the overall figures.
Gross and Net GST revenue collections for the month of Aug, 2024
GST Gross and Net Collections (Amount in crores)- August 2024
Monthly
YTD
GST Collections
Aug 2023
Aug 2024
%Growth
Aug 2023
Aug 2024
% Growth
A
B
C
D=C/B-1
E
F
G=F/E-1
A.1.Domestic
CGST
28,328
30,862
1,55,965
1,72,130
SGST
35,794
38,411
1,94,949
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FAQ :
Total gross GST revenue collections in August 2024 amounted to £1.75 lakh crore.
GST collections in August 2024 saw a 10% growth compared to August 2023.
Gross GST revenue is comprised of CGST, SGST, IGST, and Cess, from both domestic transactions and imports.
Gross domestic GST revenue grew by 9.2% in August 2024 compared to the previous year.
Gross GST revenue from imports increased by 12.1% in August 2024.
The total refund amount in August 2024 was £24,460 crore, an increase of 38.0% from the previous year.