GST Collections Soar 7.3 % To Rs. 1.77 Lakhs Cr In December
Hyderabad, Jan 1 (Maxim News): The country’s gross GST collection rose 7.3 percent year-on-year to Rs. 1.77 lakh crore in December.
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The Central GST collection stood at Rs. 32,836 crore, state GST at Rs. 40,499 crore, Integrated IGST at Rs. 47,783 crore, and Cess at Rs. 11,471 crore, according to government data released on Wednesday.
The total gross Goods and Services Tax (GST) revenue grew 7.3 percent to Rs. 1.77 lakh crore in December as compared to Rs. 1.65 lakh crore in the same month a year ago, it said.
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during the month under review, GST from domestic transactions grew 8.4 percent to Rs. 1.32 lakh crore, while revenues from tax on imports rose about 4 percent to Rs. 44,268 crore. In November, GST mop-up was Rs. 1.82 lakh crore with 8.5 percent annual growth. The highest-ever collection was in April 2024 at over Rs. 2.10 lakh crore. During the month, refunds worth Rs. 22,490 crores were issued, registering a 31 percent increase over the year-ago period. After adjusting refunds, net GST collection increased by 3.3 percent to Rs. 1.54 lakh crore. (Maxim News)
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