India’s Goods and Services Tax (GST) income noticed a 7.3 per cent yr-on-yr progress in December, reaching Rs 1.77 lakh crore, up from Rs 1.65 lakh crore collected through the corresponding interval final yr, in response to authorities knowledge launched on Wednesday. .
Breaking down the figures, central GST (CGST) accounted for Rs 32,836 crore, State GST (SGST) for Rs 40,499 crore, Integrated GST (IGST) for Rs 47,783 crore, and Cess for Rs 11,471 crore.
Domestic GST revenues grew 8.4 per cent to Rs 1.32 lakh crore, whereas GST from imports elevated by roughly 4 per cent to Rs 44,268 crore throughout December.
However, the GST collections in December have been decrease than November’s Rs 1.82 lakh crore, which noticed an 8.5 per cent annual progress. The all-time excessive GST assortment was recorded in April 2024, exceeding Rs 2.10 lakh crore.
Additionally, Rs 22,490 crore in refunds have been issued in December, marking a 31 per cent rise in comparison with the earlier yr. After accounting for refunds, the web GST assortment stood at Rs 1.54 lakh crore, reflecting a 3.3 per cent yr-on-yr enhance.
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