At ₹2.1 trn, gross GST collections in April highest ever

For the first time, gross goods and services tax (GST) collection (prior to refunds) crossed the Rs 2 trillion mark, reaching a record Rs 2.1 trillion in April. This represented year-on-year (Y-o-Y) growth of 12.4 per cent.

Net GST receipts (after refunds) rose 15.5 per cent Y-o-Y to Rs 1.92 trillion in April. Comparable data of net GST mopup is available for only two more months — February and March — both of which showed much lower revenues than in April. 

GST collections are typically the highest in April for any financial year. It will be interesting to see how many more months will clock more than Rs 2 trillion in gross GST collection in the current financial year.

The surge in GST collection was primarily driven by domestic activities, revenue from which increased 13.4 per cent Y-o-Y in April. After the settlement of IGST collection, central GST (CGST) mop-up rose by 27.8 per cent Y-o-Y to Rs 94,153 crore in April, while state GST (SGST) revenue grew 25.9 per cent to Rs 95,138 crore.

All states and Union territories — with the exception of the UTs of Jammu and Kashmir, Lakshadweep, and Andaman and Nicobar Islands, and the northeastern states of Sikkim, Nagaland, and Meghalaya — witnessed a rise in GST collection in April on a Y-o-Y basis.

 👇 Please Note 👇

Thank you for reading our article!

If you don’t received industries updates, News & our daily articles

please Whatsapp your Wapp No. or V Card on 8278298592, your number will be added in our broadcasting list.