GST collection: crosses record two lakh crore for the first time in April

Delhi . Goods and Services Tax (GST) revenue collection crossed the record two lakh crore mark for the first time in April 2024, the first month of the current financial year, reaching Rs 210267 crore, which is 12.4 percent more than Rs 187035 crore in April 2023.

The Finance Ministry released monthly GST collection figures, according to which after refunds, the net GST revenue collection in April 2024 has been Rs 1.92 lakh crore, which is 17.1 percent more than the net collection in April 2023. There is an upward trend in GST collection and April 2024 is the 11th consecutive month in which GST collection has been more than Rs 1.60 lakh crore. GST collection in this year has been more than Rs 1.78 lakh crore.

According to GST data, the total GST collection in April 2024 has been Rs 210267 crore. This includes CGT Rs 43846 crore, SGST Rs 53538 crore, IGST Rs 99623 crore, which also includes Rs 37826 crore collected on imports. Along with this, Rs 13260 crore as GST compensation tax, which also includes Rs 1008 crore collected on imports.

The government has given Rs 50307 crore in CGST and Rs 41600 crore in SGST out of IGST under regular settlement. In this way the total CJST was Rs 94,153 crore and SGST was Rs 95,138 crore.