GST Revenue Hits Record High: Surpasses Landmark Milestone, Reaches Rs 2.10 Lakh Crore in April

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April Witnesses Record High in Gross GST Collections: Hits Rs 2.10 Lakh Crore Mark



In April, the Gross Goods and Services Tax (GST) collections soared to an unprecedented milestone, reaching a remarkable Rs 2.10 lakh crore. This achievement marks a significant growth of 12.4 percent compared to the same period last year. The net GST revenue for April, after accounting for refunds, stands impressively at Rs 1.92 lakh crore, reflecting a notable growth of 17.1 percent year-on-year.

The surge in GST revenue has been attributed to a robust increase in domestic transactions, which saw a growth of 13.4 percent, and imports, which witnessed an 8.3 percent rise, according to the Ministry of Finance.

Breaking down the figures, the Central Goods and Services Tax (CGST) amounted to Rs 43,846 crore, while the State Goods and Services Tax (SGST) reached Rs 53,538 crore. Integrated Goods and Services Tax (IGST) stood at Rs 99,623 crore, inclusive of Rs 37,826 crore collected on imported goods. Additionally, the cess accounted for Rs 13,260 crore, which included Rs 1,008 crore collected on imported goods.

During the month, the central government disbursed Rs 50,307 crore to CGST and Rs 41,600 crore to SGST from the IGST collected. This translates to a total revenue of Rs 94,153 crore for CGST and Rs 95,138 crore for SGST.

Among the states, Maharashtra, Karnataka, Uttar Pradesh, Gujarat, and Delhi witnessed notable growth rates of 13 percent, 9 percent, 19 percent, 13 percent, and 23 percent, respectively. However, GST collections experienced a decline in Jammu and Kashmir (-2 percent), Sikkim (-5 percent), Arunachal Pradesh (-16 percent), Nagaland (-3 percent), Meghalaya (-2 percent), Lakshadweep (-57 percent), and Andaman and Nicobar Islands (-30 percent).

Disclaimer: The information provided here is for informational purposes only and should not be considered as financial or investment advice.






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