IANS | 01 May, 2024
The country's gross GST revenue collection for April this year
soared to the highest ever level at Rs 2.10 lakh crore, Finance Minister
Nirmala Sitharaman announced on Wednesday.
This represents a
significant 12.4 per cent year-on-year growth, driven by a strong
increase in domestic transactions (up 13.4 per cent) and imports (up 8.3
per cent).
After accounting for refunds, the net GST revenue for
April 2024 stands at Rs 1.92 lakh crore, reflecting an impressive 17.1
per cent 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): Rs 43,846 crore; State Goods and Services Tax (SGST): Rs 53,538
crore; Integrated Goods and Services Tax (IGST): Rs 99,623 crore,
including Rs 37,826 crore collected on imported goods; Cess: Rs 13,260
crore, including Rs 1,008 crore collected on imported goods.
As
part of the inter-governmental settlement for April, the central
government settled Rs 50,307 crore to CGST and Rs 41,600 crore to SGST
from the IGST collected. This translates to a total revenue of Rs 94,153
crore for CGST and Rs 95,138 crore for SGST for April 2024 after
regular settlement.
