The Gross Goods and Services Tax (GST) revenue collections for April this year have recorded the highest ever collection of two lakh ten thousand crore rupees. Union Finance Ministry said, this represents a significant 12.4 per cent year-on-year growth, driven by a strong increase in domestic transactions and imports. It said, out of the total collection in April this year, Central Goods and Services Tax is over 43 thousand crore rupees, State Goods and Services Tax is over 53 thousand crore, Integrated Goods and Services Tax is over 99 thousand crore and cess is over 13 thousand crore rupees.
The Ministry said, after accounting for refunds, the net GST revenue for April 2024 stands at one lakh 92 thousand crore rupees, reflecting an impressive 15.5 per cent growth compared to the same period last year.
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