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GST collections breach landmark milestone of Rs 2 lakh crore Gross Revenue Records 12.4% y-o-y growth Net Revenue (after refunds) stood at Rs 1.92 lakh crore; 15.5% y-o-y growth 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% year-on-year growth, driven by a strong increase in domestic transactions (up 13.4%) and imports (up 8.3%). After accounting for refunds, the net GST revenue for April 2024 stan
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FAQ :
The Gross Goods and Services Tax (GST) collections in April 2024 reached a record high of £2.10 lakh crore.
GST revenue collection in April 2024 showed a 12.4% year-on-year growth.
After accounting for refunds, the net GST revenue for April 2024 stood at £1.92 lakh crore.
The increase in GST revenue was driven by a strong rise in domestic transactions, which grew by 13.4%, and imports, which increased by 8.3%.
In April 2024, CGST collection was £43,846 crore, SGST was £53,538 crore, IGST was £99,623 crore (including £37,826 crore from imports), and Cess was £13,260 crore (including £1,008 crore from imports).
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