courtesy: news18Goods and Service Tax (GST) collection in the month of April 2024 rose 12.4 per cent on the annual basis to more than Rs 2 lakh crore, which is the highest ever till date. The growth has been driven by strong increase in domestic transactions, which has gone up by 13.4%, and also the increase in imports, which is by 8.3%, has contributed to the figures.
Post the accounting for refunds, the net GST revenue for April 2024 stands at Rs. 1.92 lakh crore, reflecting an impressive 17.1 per cent growth compared to the same period last year.
During 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.
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.
