GST collections breach landmark milestone! Revenue highest ever at Rs 2.10 lakh cr in April

Gross Goods and Services Tax (GST) collections achieved a landmark milestone in the month of April. GST revenue for April hit a record high of Rs 2.10 lakh crore, representing a growth of 12.4 per cent on-year. The net GST revenue for April – after accounting for refunds – stands at Rs 1.92 lakh crore, which is an impressive growth of 17.1 per cent, compared to the same period last year.

The high GST revenue has been driven by a strong increase in domestic transactions (up 13.4 per cent) and imports (up 8.3 per cent), as per the Ministry of Finance. 

The ministry stated that the Central Goods and Services Tax (CGST) amounted to Rs 43,846 crore, while the State Goods and Services Tax (SGST) amounted to Rs 53,538 crore. Integrated Goods and Services Tax (IGST) amounted to Rs 99,623 crore, which included Rs 37,826 crore collected on imported goods. Additionally, cess amounted to Rs 13,260 crore, including Rs 1,008 crore collected on imported goods. 

In April, the central government settled Rs 50,307 crore to CGST and Rs 41,600 crore to SGST from the IGS collected, translating to total revenue of Rs 94,153 crore for CGST and Rs 95,138 crore for SGST. 

Maharashtra, Karnataka, Uttar Pradesh, Gujarat and Delhi saw growths of 13 per cent, 9 per cent, 19 per cent, 13 per cent and 23 per cent. GST collections dipped in Jammu and Kashmir (-2 per cent), Sikkim (-5 per cent), Arunachal Pradesh (-16 per cent), Nagaland (-3 per cent), Meghalaya (-2 per cent), Lakshadweep (-57 per cent), and Andaman and Nicobar Islands (-30 per cent).