Gross GST collections hit record high in April 2024 at Rs2.10 lakh crore
BBN Bureau
NEW DELHI: The Goods and Services Tax GST revenue earned by Kerala in April this year has logged 9 per cent growth compared with a year ago from Rs3010 core to Rs3272 crore.
The average growth in GST recorded by the states and Union Territories was at 13 per cent from Rs1,51 lakh crore to Rs1.72 lakh crore in April. This was far higher than the growth recorded by Kerala during the same month.
The gross GST collections of the country hit a record high in April 2024 at Rs2.10 lakh crore. This represents a significant 12.4 per cent year-on-year growth, driven by a strong increase in domestic transactions (up 13.4 per cent) and imports (up 8.3 per cent).
After accounting for refunds, the net GST revenue for April 2024 stands at Rs1.92 lakh crore, reflecting an impressive 15.5 per cent growth compared with the same period last year.
Maharashtra recorded the highest amount of Rs37,671 crore followed by Karnataka, Gujarat and Uttar Pradesh . At the same time, Lakshadweep recorded the lowest amount of GST revenue at Rs1 crore.
Break up
While the Central GST (CGST) was at Rs43,846 crore, the state GST or SGST was at Rs53,538 crore for April.;
Inter-Governmental Settlement
In the month of April, 2024, the central government settled Rs50,307 crore to CGST and Rs41,600 crore to SGST from the IGST collected.
This translates to a total revenue of Rs94,153 crore for CGST and Rs95,138 crore for SGST for April, 2024 after regular settlement.
