Quick Summary
Gross GST revenue collection in May 2024 stands at ₹1.73 lakh crore; Records 10% y-o-y growth ₹3.83 lakh crore gross GST revenue collection in FY2024-25 (till May 2024) records 11.3% y-o-y growth Net Revenue (after refunds) grows 11.6% in FY 2024-25 (till May 2024) Domestic Gross GST Revenue grows 15.3% in May, 2024 The gross Goods and Services Tax (GST) revenue for the month of May 2024 stood at ₹1.73 lakh crore. This represents a 10% year-on-year growth, driven by a strong increase in do
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FAQ :
The gross GST revenue collected in May 2024 was ₹1.73 lakh crore.
The GST revenue in May 2024 shows a 10% year-on-year growth compared to May 2023.
The growth was mainly driven by a 15.3% increase in domestic transactions, despite a 4.3% decrease in imports.
After accounting for refunds, the net GST revenue for May 2024 was ₹1.44 lakh crore, a 6.9% increase year-on-year.
The gross GST revenue for the fiscal year 2024-25, up to May 2024, was ₹3.83 lakh crore, showing an 11.3% year-on-year growth.
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