April’s GST Collections Scale Plunged Rs 1.87 Lakh Crore

GST collections for April scale record high of Rs 1.87 lakh crore.

According to the Union Finance Ministry’s data, the government collected a huge Rs 1.87 lakh crore of Goods and Services Tax (GST) in April.

At Rs 1.87 lakh crore, April’s GST collection is high by a considerable margin. The previous highest record was Rs 1.68 lakh crore collected in April 2022.

The GST collection is up 11.6% from April 2022. Compared to March 2023 GST collection, April’s figure is up 16.8%.

Central GST was Rs 38,440 crore, State GST resulted at Rs 47,412 crore, Integrated GST was Rs 89,158 crore, and compensation cess came out at Rs 12,025 crore.

In April, the GOI settled Rs 45,864 crore to Central GST and Rs 37,959 crore to State GST from Integrated GST collection. As a result, April’s total revenue after settlement was Rs 84,304 crore for the Centre and Rs 85,371 crore for State GST, respectively.

Per the Amrit Kaal Budget, the Centre anticipates its GST collections to increase by 12% in the current financial year.

The finance ministry said April 20 saw the highest-ever tax collection on a single day as Rs 68,228 crore was paid through 9.8 lakh transactions. The highest single-day payment last year was Rs 57,846 crore through 9.6 lakh transactions.

While many states posted 20% plus growth in April’s GST collections, 14 states and Union Territories logged less than 14% growth in their revenues. These include Chandigarh (2%), Odisha (3%), Gujarat (4%), Andaman and Nicobar Islands (5%), Dadra and Nagar Haveli and Daman and Diu (5%), Rajasthan (5%), Andhra Pradesh (6%), Meghalaya (6%), Puducherry (6%), Delhi (8%), Bihar (11%), and Kerala (12%). The poorest figures were for Lakshadweep, falling by 7% compared to April 2022.

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