Scaling new peaks! GST collections hit all-time high of Rs 2.10 lakh crore in April 2024
GST collections cross Rs 2 lakh crore! In April 2024, the Gross Goods and Services Tax (GST) collections reached an all-time high of Rs 2.10 lakh crore, marking a substantial 12.4% growth compared to the same month in the previous year. This impressive increase can be attributed to a robust rise in domestic transactions, which grew by 13.4%, and imports, which saw an 8.3% uptick.
The net GST revenue for April 2024, after accounting for refunds, amounts to Rs 1.92 lakh crore, showcasing a remarkable 17.1% growth when compared to the corresponding period in the previous year, according to the release by Ministry of Finance.
