Gross goods and services tax (GST) collection rose by 6.5 per cent in September 2024 at Rs 1.73 lakh crore as compared to the mop-up of Rs 1.63 lakh crore in September last year. However, this growth is slowest in collections in 40-months. Also, September 2024 collection declined marginally by 1.14 per cent as compared to at Rs 1.75 lakh crore GST revenues in August 2024.
According to government data, gross domestic revenue grew 5.9 per cent to about Rs 1.27 lakh crore. Revenue from import of goods was up 8 per cent to Rs 45,390 crore. Refunds worth Rs 20,458 crore were issued during the month, an increase of 31 per cent over the year-ago period.
After adjusting refunds, the net GST revenue in September stood at Rs 1.53 lakh crore, 3.9 per cent higher than the year-ago period. GST collections during the April-September period of the current fiscal year grew 9.5 per cent to over Rs 10.87 lakh crore.
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