GST Collection In August 2024 Is Rs. 1.74 Lakh Cr, Last Year It Was Rs. 1.59 Cr For The Same Month

By IND Today News Desk Last updated Sep 2, 2024

GST Collection In August 2024 Is Rs. 1.74 Lakh Cr, Last Year It Was Rs. 1.59 Cr For The Same Month

Hyderabad, Sept 2 (Maxim News): According to the latest official statistics released by the government, a total of Rs. 1,74,962 crores has been collected in GST in August. Last year, the GST collection in the month of August was Rs. 1.59 lakh crore. compared to that, the percentage of tax collection has increased by 10 percent.

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But the GST collection in July was Rs. 1,82,075 crore. Compared to that, the GST collections have decreased marginally.

Tax collection of Rs. 2.10 lakh crores in a single month is a record so far. It happened in the month of April 2024. The total GST tax collected from January to August this year is Rs. 9.13 lakh crore. In the same period of 2023, the tax collection is Rs. 8.29 lakh crore.

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The refund amount for August is Rs. 24,460, compared to August of the previous year, the refund percentage has increased by 38 percent. Net GST collections, excluding refunds, out of total tax collections of Rs. 1.5 lakh crores. This is a percentage of net receipts compared to last year, found to be less than 6.5 percent.

Out of the total tax collection of Rs. 1.74 lakh crore in August, Rs. 1.25 lakh crore came from internal affairs. This tax collection increased by 9.2 percent. Furthermore, the tax on imported goods is Rs. 49,976 crore, this percentage has increased by 12.1 percent.

State-wise GST collection details are provided every month. However, this time it was not released. According to records, Maharashtra collects the highest GST. The next place is Karnataka. The states of Tamil Nadu and Gujarat also collect high taxes. (Maxim News)