Domestic transactions spur April GST collection to record Rs 2.10L cr
Sandeep Dikshit
New Delhi, May 1
The Gross Goods and Services Tax (GST) collections hit a record high in April at Rs 2.10 lakh crore. 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, according to an official news release.
The GST revenue for March had witnessed the second-highest collection till then at Rs 1.78 lakh crore, with an 11.5 per cent year-on-year growth. “This surge was driven by a significant rise in GST collection from domestic transactions at 17.6 per cent. The GST revenue net of refunds for March is Rs 1.65 lakh crore, which is a growth of 18.4 per cent over the same period last year,” the government had said.
A breakdown of April collections showed Central Goods and Services Tax (CGST) at Rs 43,846 crore, State Goods and Services Tax (SGST) at Rs 53,538 crore, Integrated Goods and Services Tax (IGST) at Rs 99,623 crore, including Rs 37,826 crore collected on imported goods; and cess at Rs 13,260 crore, including Rs 1,008 crore collected on imported goods.
The GST intake for Punjab was Rs 2,796 crore in April as against Rs 2,316 crore in the same month last year, showing a strong growth of 21 per cent. In Himachal, Rs. 1,015 crore of GST was collected, which was a 6 per cent increase from the same period last year. In Chandigarh, GST collected in April this year was Rs 313 crore, an increase of 23 per cent over April 2023. Jammu & Kashmir, however, collected lower GST of Rs 789 crore, showing a decline of 2 per cent over the Rs 803 crore collected in April last year. In Haryana, the GST intake was a whopping Rs 12,168 crore in April as compared Rs 10,035 crore in the same month last year, showing an increase of 21 per cent.
