Goods and Services Tax (GST) collections rose to ₹1.77 lakh crore in December 2024, staying above the ₹1.7 lakh crore mark for the tenth consecutive month, according to data released on January 1. This represents a 7.3% increase from ₹1.65 lakh crore collected in December 2023. However, the collections were lower than the record ₹2.1 lakh crore achieved in April.
GST Revenue Breakdown:
- Integrated GST (IGST): ₹91,200 crore
- State GST (SGST): ₹40,500 crore
- Central GST (CGST): ₹32,800 crore
- GST Cess: ₹12,300 crore
Economic Indicators:
A rise in GST revenues suggests improved economic performance compared to the previous quarter. The Indian economy, however, faced challenges in the second quarter of FY25, with growth slowing to a seven-quarter low of 5.4%, down from 6.7% in the April-June period.
This robust GST mop-up highlights steady tax compliance and economic activity despite broader economic challenges.
