The country’s gross GST revenue collection for April this year soared to the highest ever level at  ₹2.10 lakh crore, finance minister Nirmala Sitharaman announced Today.

This represents a significant 12.4% year-on-year growth, driven by a strong increase in domestic transactions (up 13.4%) and imports (up 8.3%).

After accounting for refunds, the net GST revenue for April 2024 stands at  ₹1.92 lakh crore, reflecting an impressive 17.1% growth compared to the same period last year.

The finance ministry said that there has been a positive performance across components. The collections comprise -- Central Goods and Services Tax (CGST):  ₹43,846 crore; State Goods and Services Tax (SGST):  ₹53,538 crore; Integrated Goods and Services Tax (IGST):  ₹99,623 crore, including  ₹37,826 crore collected on imported goods; Cess:  ₹13,260 crore, including  ₹1,008 crore collected on imported goods.

As part of the inter-governmental settlement for April, the central government settled  ₹50,307 crore to CGST and  ₹41,600 crore to SGST from the IGST collected. This translates to a total revenue of ₹94,153 crore for CGST and  ₹95,138 crore for SGST for April 2024 after regular settlement.

(Source: IANS)

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