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GST collections jump 10.4% to over Rs 1.72 trillion in January

01 Feb 2024 Evaluate

The finance ministry has said that Goods and Services Tax (GST) collections jumped 10.4 per cent to over Rs 1.72 trillion in January 2024 (till 05:00 PM of January 31, 2024). This is the second-highest monthly collection ever and marks the third month in this financial year with a collection of Rs 1.70 trillion or more.

The ministry said the gross GST revenue collected in the month of January 2024 is Rs 1,72,129 crore, which shows a 10.4 per cent y-o-y growth over the revenue of Rs 1,55,922 crore collected in January 2023.

It further said during the April 2023-January 2024 period, cumulative gross GST collection witnessed 11.6 per cent year-on-year growth, reaching Rs 16.69 trillion against Rs 14.96 trillion collected in the same period of the previous year (April 2022-January 2023). The highest-ever monthly GST collection was recorded in April 2023 at Rs 1.87 trillion.