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🚨 JUST IN: India’s GST collection surged by 7.3% year-on-year, reaching Rs 1.77 lakh crore in December 2024, up from Rs 1.65 lakh crore in December 2023. This reflects strong economic resilience and effective GST compliance measures. The December 2024 breakdown includes Rs 32,836 crore from CGST, Rs 40,499 crore from SGST, Rs 47,783 crore from IGST, and Rs 11,471 crore as cess. Domestic GST contributed Rs 1.32 lakh crore, an 8.4% year-on-year rise, while GST from imports rose 4%, contributing Rs 44,268 crore. Although December’s collection is slightly lower than November’s all-time high of Rs 1.82 lakh crore, it underscores steady growth in economic activity and robust tax compliance. #GST #IndianEconomy #FinancialGrowth

Strong GST Growth in April 2024!   India's GST collections hit a record high of ₹2.10 lakh crore in April 2024, reflecting a 12.4% year-on-year jump. This surge is driven by both domestic transactions (+13.4%) and imports (+8.3%). Net GST revenue after refunds also saw impressive growth of 15.5%.   Here's a breakdown: CGST: ₹43,846 crore SGST: ₹53,538 crore IGST: ₹99,623 crore (incl. ₹37,826 crore on imports) Cess: ₹13,260 crore (incl. ₹1,008 crore on imports) Positive news for both central and state governments with healthy revenue figures #JPChawla #GST #IndianEconomy #PIB #Taxation

#GST #India #Swipe Left Domestic Gross GST Revenue grows 15.3% in May, 2024 The gross Goods and Services Tax (GST) revenue for the month of May 2024 stood at ₹1.73 lakh crore. This represents a 10% year-on-year growth, driven by a strong increase in domestic transactions (up 15.3%) and slowing of imports (down 4.3%). After accounting for refunds, the net GST revenue for May 2024 stands at ₹1.44 lakh crore, reflecting a growth of 6.9% compared to the same period last year.

India's March GST collection second-highest ever at Rs 1.78 lakh crore #GST #GST_collection #india #moneycantrol #etmarket @tradingtech1 India's goods and services tax mop-up for March 2024 at Rs 1.78 lakh crore is the second highest collection ever, registering a 11.5 percent year-on-year growth, the finance ministry said in a release on April 1. For the entire fiscal year 2023-24, gross GST collection stood at Rs. 20.18 lakh crore, a 11.7 percent increase compared to the previous year. "The surge was driven by a significant rise in GST collection from domestic transactions at 17.6 percent. FY 2023-24 marks a milestone with total gross GST collection of Rs. 20.18 lakh crore exceeding Rs 20 lakh crore," Finance Ministry said in a statement. The average monthly collection for this fiscal year stands at Rs 1.68 lakh crore, surpassing the previous year’s average of Rs 1.5 lakh crore

🚨 Shocking Fact: India’s GST collections in September 2024 rose to ₹1.73 lakh crore, marking a 6.5% increase year-on-year! I find this growth noteworthy, especially considering the challenges faced in various sectors. Here's a breakdown of what this means: Total GST Revenue: ₹1.73 lakh crore collected in September, compared to ₹1.63 lakh crore last year. Net Collections: After accounting for refunds, the net GST revenue reached ₹1.53 lakh crore, showing a 4% rise year-on-year. Domestic vs. Import Revenue: Domestic collections grew by 5.9%, while import revenues surged by 8%, reflecting a robust trade environment. Refunds on the Rise: Refunds issued this month increased by 31% to ₹20,458 crore, indicating improved efficiency in processing. Despite being the slowest growth in recent months, this increase is a positive sign for our economy as we head into the festive season. 🎉What are your thoughts on how these trends will impact businesses and consumers alike? Let’s discuss! 💬 #Finance #GST #EconomicGrowth #India #Taxation #BusinessInsights #FinancialAnalysis

The Indian government has reported a Goods and Services Tax (GST) collection of ₹1.73 lakh crore for May 2024. This represents a 10% increase compared to the same month in the previous year. The rise is attributed to a surge in domestic transactions, which grew by 15.3% The breakdown of the GST collection for May 2024 is as follows: CGST: ₹32,409 crore SGST: ₹40,265 crore IGST: ₹87,781 crore (including ₹39,879 crore collected on imported goods) Cess: ₹12,284 crore (including ₹1,076 crore collected on imported goods) This growth in GST collection is a positive sign for the economy, indicating a robust increase in domestic business activities. #GST #GOODS #economies #nation #india #tax #CA #finance

GST collections for April 2024 have set a new record, crossing the Rs. 2 lakh crore milestone for the first time ever. The Gross Goods and Services Tax (GST) collections hit a record high of Rs. 2.10 lakh crore, reflecting a significant 12.4% year-on-year growth. This growth was driven by a robust increase in domestic transactions (up 13.4%) and imports (up 8.3%). The positive performance was seen across all components, including Central Goods and Services Tax (CGST), State Goods and Services Tax (SGST), Integrated Goods and Services Tax (IGST), and Cess. After accounting for refunds, the net GST revenue for April 2024 stands at Rs. 1.92 lakh crore, reflecting an impressive 17.1% growth compared to the same period last year. This is a testament to the resilience of the Indian economy and the government's efforts to boost economic growth. #GST #India #Economy #RecordHigh #Growth #Resilience #GovernmentEfforts

India's GST collection for December grew 7.3% year-on-year, reaching ₹1.77 lakh crore, reflecting continued economic momentum and compliance under the unified tax regime. This is a significant increase from ₹1.65 lakh crore collected in the same period last year.   #RevenueDistribution   The December collection includes ₹32,836 crore from Central GST (CGST), ₹40,499 crore from State GST (SGST), ₹47,783 crore from Integrated GST (IGST), and ₹11,471 crore from cess.   #DomesticVsImportGrowth   GST from domestic transactions saw robust growth of 8.4%, amounting to ₹1.32 lakh crore. Meanwhile, revenues from imports grew by 4% to ₹44,268 crore, indicating steady external trade contributions.   #MonthOnMonthComparison   While December’s GST collections reflect steady growth, they are slightly lower than November’s mop-up of ₹1.82 lakh crore, which had recorded 8.5% year-on-year growth. However, both months remained well above historical averages, with April 2024 holding the record at over ₹2.10 lakh crore.   #RefundsAndNetCollections   Refunds issued during December rose significantly, totaling ₹22,490 crore—a 31% increase compared to the previous year. After adjusting for refunds, the net GST collection stood at ₹1.54 lakh crore, reflecting a 3.3% growth.  #EconomicIndicator   These numbers underscore strong domestic economic activity and sustained improvements in compliance under India’s GST framework, solidifying its role as a critical component of fiscal policy.  

India's Goods and Services Tax (GST) collections reached Rs 1.77 lakh crore in December 2024, marking a 7.3% year-on-year increase. Key highlights: - Domestic transaction GST grew 8.4% to Rs 1.32 lakh crore - Import-related GST collections increased by 4% to Rs 44,268 crore - This marks the tenth consecutive month of GST collections above Rs 1.7 lakh crore - After adjusting refunds, net GST collection rose 3.3% to Rs 1.54 lakh crore Experts note that while the growth is positive, it represents the slowest pace in three months, potentially signaling a moderation in economic activity. #gst #India #gstcollections

"India's GST collection for August 2024 hits a new high! Rs 1.75 trillion in gross GST revenue, a 10% increase from last year Domestic transactions grow 9.2% to Rs 1.25 trillion Import goods revenue rises 12.1% to Rs 49,976 crore Net GST revenue grows 6.5% to Rs 1.5 trillion after refunds A strong sign of economic growth and robust consumption! Let's keep the momentum going through the festive season. #GST #IndianEconomy #EconomicGrowth #Consumption #FestiveSeason"