GST collections breach landmark milestone of ₹2 lakh crore, Gross Revenue Records 12.4% y-o-y growth
GN Bureau | May 1, 2024
The gross Goods and Services Tax (GST) collections hit a record high in April 2024 at ₹2.10 lakh crore. 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 15.5% growth compared to the same period last year, an official release said Wednesday.
Breakdown of April 2024 Collections:
* 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.
Inter-Governmental Settlement: In the month of April, 2024, 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.
The chart shows trends in monthly gross GST revenues during the current year. Table-1 shows the state-wise figures of GST collected in each State during the month of April, 2024 as compared to April, 2023.
For a table showing the state-wise figures of post settlement GST revenue of each state for April, 2024, pls click here: https://pib.gov.in/PressReleasePage.aspx?PRID=2019262
Experts have emphasized the urgent need to improve how scientific evidence on air pollution is communicated to policymakers and the public to spur meaningful health and policy action. They were participating in a webinar titled “Communicating Air Pollution Science for Public Health Act
In a step toward inclusive digital transformation, the Maharashtra government has signed a Letter of Intent (LOI) with Starlink Satellite Communications Private Limited. With this, Maharashtra becomes the first Indian state to formally collaborate with Starlink to deploy satellite-based internet services f
This November, children and young people across India are embarking on a joyful exploration of birds and nature as part of Young Birders’ Month (YBM) - a first-of-its-kind, month-long campaign created to spark curiosity and ecological awareness among young minds. This initiative is organized collabor
Although New Delhi has not officially commented on the growing footprint of Pakistan’s Inter-services Intelligence (ISI) in Bangladesh, India`s strategic and security community appears to be highly concerned over last week’s development in Dhaka. During Pakistan’s Joi
When India became the first country in the world to legislate corporate social responsibility (CSR) in 2013, it marked a bold experiment in blending profit with purpose. By law, companies with a net worth of ₹500 crore or more, or a turnover of ₹1,000 crore or more, or net profit of ₹5 crore or more
Shaolin Spirit: The Way to Self-Mastery By Shi Heng Yi Particular Book/Penguin Books, 264 pages In the history
