GST collection has reached record level in the month of April. In the information given by the Finance Ministry on Wednesday (1 May 2024), it was told that GST collection of Rs 2.10 lakh crore has been done in April 2024. This is the biggest figure till date. Also, this is the first time that GST collection has crossed the figure of two lakh crores.
In the post made by Finance Minister Nirmala Sitharaman on social media regarding GST collection, it was said that there has been an increase of 12.4 percent in the gross GST collection on an annual basis. Net GST income after refund is Rs 1.92 lakh crore. There has been an increase of 17.1 percent on annual basis.
According to the data released by the Finance Ministry, GST collection of Rs 37,671 crore has been made from Maharashtra. At the same time, Rs 15,978 crore from Karnataka, Rs 13,301 crore from Gujarat, Rs 12,290 crore from Uttar Pradesh, Rs 12,210 crore from Tamil Nadu, Rs 12,168 crore from Haryana, Rs 7,772 crore from Delhi, Rs 7,293 crore from West Bengal, Rs 6,236 crore from Telangana. Rs 5,902 crore have been collected from Odisha, Rs 5,558 crore from Rajasthan, Rs 5,558 crore from Uttar Pradesh, Rs 4,850 crore from Andhra Pradesh, Rs 4,728 crore from Madhya Pradesh, Rs 4,001 crore from Chhattisgarh and Rs 3,829 crore from Jharkhand. .
Information given in the press release of PIB states that the reason for the increase in GST collection is due to strong domestic transactions. There has been an increase of 13.4 percent on annual basis. Import transactions have increased by 8.3 percent on an annual basis. Among GST collections, Central GST collection was Rs 43,846 crore, State GST collection was Rs 53,538 crore and IGST collection was Rs 99,623 crore.
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