In April 2024, India's Goods and Services Tax (GST) receipts reached a record high of Rs 2.1 lakh crore. This reflects a 12.4 percent year-on-year gain, led by a substantial increase in domestic transactions (up 13.4 percent) and imports (up 8.3 percent), according to a finance ministry statement released on May 1. The government collected Rs 1.87 lakh crore in GST during the same period last year.
"After accounting for refunds, the net GST revenue for April 2024 stands at Rs 1.92 lakh crore, reflecting an impressive 17.1 percent growth compared to the same period last year," the ministry stated in a press release.
Monthly GST receipts have increased over time. Collections climbed considerably in the aftermath of the pandemic, reaching an average of Rs 1.51 lakh crore in 2022-23, up from less than Rs 1 lakh crore each month in 2017-18. Gross revenues for the first month of FY25 were also 17.81% higher than the March mop-up of Rs 1.78 lakh crore.
In April 2024, the government collected Rs 43,846 crore from national GST, Rs 53,538 crore from state GST, and the combined GST mop-up was Rs 99,623 crore, including Rs 37,826 crore from imported goods. GST cess income for the previous month was Rs 13,260 crore, with Rs 1,008 crore collected from imported goods.
"GST collections surpass a landmark milestone of Rs 2 lakh crore," Finance Minister Nirmala Sitharaman tweeted on social media platform X (formerly Twitter).
"In April 2024, the central government paid Rs 50,307 crore in national GST and Rs 41,600 crore in state GST from the total integrated GST collected. This translates to a total revenue of Rs 94,153 crore for national GST and Rs 95,138 crore for state GST in April 2024, subject to regular settlement," the ministry noted.
