According to data issued by the government on Wednesday, India’s gross Goods and Services Tax (GST) collection increased 7.3% year over year in December to ₹1.77 lakh crore. Compared to the same month last year, when ₹1.65 lakh crore was collected, this represents an increase.
₹32,836 crore from Central GST, ₹40,499 crore from State GST, ₹47,783 crore from Integrated GST, and ₹11,471 crore from cess are all included in the revenue distribution for December.
The amount of GST from domestic transactions increased by 8.4% to ₹1.32 lakh crore. In the meantime, import earnings rose 4% to ₹44,268 crore.
Despite showing strong growth, December’s GST collection is less than November’s mop-up of ₹1.82 lakh crore, which saw an 8.5% year-over-year increase. In April 2024, the highest-ever GST collection of ₹2.10 lakh crore was attained.
The data also showed that refunds issued increased, reaching ₹22,490 crore in December, a 31% increase over the same time the previous year. The net GST collection, after deducting refunds, was ₹1.54 lakh crore, or 3.3%.