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.