GST Collection Surpasses Rs 2 Lakh Crore Milestone; Reaches Rs 2.10 Lakh Crore in April

New Delhi: India’s gross GST collections reached a record-breaking Rs 2.10 lakh crore in April, marking a 12.4% year-on-year growth, fueled by a robust increase in domestic transactions and imports. The finance ministry announced that GST collections have crossed the significant milestone of Rs 2 lakh crore.

In April 2024, the Gross Goods and Services Tax (GST) collections hit an all-time high of Rs 2.10 lakh crore. This represents a substantial 12.4% year-on-year growth, driven by a strong increase in domestic transactions (up 13.4%) and imports (up 8.3%)," the ministry stated.

The collection was over Rs 1.78 lakh crore the previous year, while it was Rs 1.87 lakh crore in April 2023. After accounting for refunds, the net GST revenue for April 2024 stood at Rs 1.92 lakh crore, reflecting an impressive 17.1% growth compared to the same period last year.

In April, the Central GST collection was Rs 43,846 crore; State GST was Rs 53,538 crore; Integrated GST was Rs 99,623 crore, including Rs 37,826 crore collected on imported goods. The cess collection was Rs 13,260 crore, including Rs 1,008 crore collected on imported goods.

(With inputs from PTI)