New Delhi [India]May 1 (ANI): Gross Goods and Services Tax (GST) collection reached an all -time high of Rs 2.37 lakh crore during April, depicting an increase of 12 percent.
According to the government data released on Thursday, the total GDT revenue was 2.10 lakh crores in April of the current year.
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Statistics show that GST revenue increased by 10.7 percent from domestic transactions, which is about Rs 1.9 lakh crore.
Revenue from imported goods increased by 20.8 percent to Rs 46,913 crore, as the data suggests.
The data shows that the release of refunds rose from 48.3 percent to Rs 27,341 crore during the month.
The gross Goods and Services Tax (GST) collection for March 2025 remained at Rs 19,56,034 crore (Rs 1.96 lakh crore), increased by 9.9 percent.
The data showed that the collection in March was 6.8 percent more than Rs 1.84 lakh crore recorded in the previous month.
While observing GST data, Saurabh Aggarwal, Tax Partner, I India said, “The record GST collection underlines the underlying strength of the Indian economy in front of global economic uncertainties.”
He said, “While the current global economic environment is an estimated moderation in full GST collection next month, the overall approach to the Indian economy is optimistic,” he said.
Recently the GST collection reflects a positive trajectory for India’s economy, which outlines strong domestic consumption and bounce import activity. Amidst global uncertainties, the figures do well for the country’s fiscal health and economic reform efforts, indicate.
The Goods and Services Tax was introduced in the country effective from July 1, 2017, and the states were assured of compensation for the loss of any revenue arising due to the implementation of GST.
The GST Council, a federal body in which the Union Finance Minister is as members of his president and finance ministers of all states, has played his role in the stage. The latest meeting of GST Council was held on 21 December in Jaisalmer, Rajasthan. (AI)
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