GST collections at record Rs 2.10 lakh crore in April; here is all you need to know

GST April 2024 data, Goods and Services Tax data: The government began the new financial year with record goss goods and services tax (GST) collections. Its gross GST collections stood at Rs 2.1 lakh crore in April, marking a year-on-year increase of 12.4 per cent, according to official data released on Wednesday. The monthly tally was boosted by a strong increase in domestic transactions and imports, which rose 13.4 per cent and 8.3 per cent respectively, said the finance ministry. 

Net GST revenue, after taking refunds into account, registered an increase of 17.1 per cent to Rs 1.92 lakh crore. 

Out of the total gross tally, central goods and services tax (CGST) collections stood at Rs 43,846 crore, state goods and services tax (SGST) collections at Rs 53,538 crore, integrated goods and services tax (IGST) collections at Rs 99,623 crore (including Rs 37,826 crore collected on imported goods), according to the release. 

The cess amounted to Rs 13,260 crore in April, including Rs 1,008 crore collected on imported goods.

Out of the IGST collected, the central government settled Rs 50,307 crore to CGST and Rs 41,600 crore to SGST, amounting to total revenue of Rs 94,153 crore for CGST and Rs 95,138 crore for SGST for the month.

Also Read: Odisha records 17.21% growth in gross GST collection in April

An #IGST amount of ₹50,307 crore to Centre and ₹41,600 crore to States has been cleared.

This #IGST settlement of ₹91,907 crore is ₹4,413 crore more than the actual net IGST collections of ₹87,494 crore and stands settled by the Central Government.

There are NO DUES… https://t.co/TMy8LLLhh5

— Nirmala Sitharaman (Modi Ka Parivar) (@nsitharaman) May 1, 2024

State-/UT-wise GST revenue growth in April 2024 vs April 2023  

Source: Ministry of Finance