GST revenue collection for April 2024 highest ever at Rs 2.10 lakh crore.
New Delhi:
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 stands at Rs. 1.92 lakh crore, reflecting an impressive 15.5% growth compared to the same period last year.
Positive Performance Across Components:
Breakdown of April 2024 Collections:
Central Goods and Services Tax (CGST): Rs. 43,846 crore;
State Goods and Services Tax (SGST): Rs. 53,538 crore;
Integrated Goods and Services Tax (IGST): Rs. 99,623 crore, including Rs. 37,826 crore collected on imported goods;
Cess: Rs. 13,260 crore, including Rs. 1,008 crore collected on imported goods.
Inter-Governmental Settlement: In the month of April, 2024, the central government settled 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 for April, 2024 after regular settlement.
