Key Points
Economist, former RBI Governor and Professor of Finance at the University of Chicago, Raghuram Rajan, lauded the government for the Goods and Services Tax (GST) and Unified Payments Interface (UPI)..
Speaking at a podcast hosted by Akash Banerjee, on his YouTube channel The Deshbhakt, Rajan talking about certain landmark implementations, picked UPI and GST...
Since then, the GST revenue collection for November 2023 has increased to nearly Rs 1.68 lakh crore, which is a 15% jump on an annual basis, crossing the Rs 1.6 lakh crore mark for the sixth time in FY24..
Out of that, CGST was Rs 30,420 crore, SGST was Rs 38,226 crore, IGST was Rs 87,009 crore (including Rs 39,198 crore collected on import of goods) and cess was Rs 12,274 crore (including Rs 1,036 crore collected on import of goods)...
Moreover, the Finance Ministry is anticipating average monthly GST revenue collections for the upcoming fiscal 2024-25 to surpass Rs 1.7 lakh crore, on the back of a strong economy and increasingly better compliance...
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March GST collection up 11.5% YoY at Rs 1.78 lakh cr, FY24 mop-up crosses Rs 20 lakh cr
01, Apr, 24In March 2024, Goods and Service Tax (GST) collection surged 11.5% year-on-year to Rs 1.78 lakh crore, marking the second-highest since GST's inception in July 2017. For FY24, GST collection soared by 11.7% to Rs 20.14 lakh crore, with average monthly collection rising to Rs 1.68 lakh crore from the previous year's Rs 1.5 lakh crore.
India's GST collections up 11 per cent to Rs 1.59 lakh cr in August
02, Sep, 23India's goods and services tax collections grew 11 per cent to around Rs 1.60 lakh crore on an annual basis in August. India's GST collections have seen a 11 per cent YoY increase in recent months. GST collection had seen a similar annualised jump in July, at Rs 1.65 lakh crore.
India's GST collection increases 12.5% to Rs 1.68 lakh crore in February
01, Mar, 24India's goods and services tax (GST) collection for February reached Rs 1.68 lakh crore, marking a 12.5 per cent increase from the previous year. This growth was driven by a 13.9 per cent rise in domestic GST transactions and an 8.5 per cent increase in GST from imported goods.
GST collections rise 11.5% to cross ₹1.57 lakh crore in May
01, Jun, 23India’s gross Goods & Services Tax (GST) collections grew 11.5% in May, crossing ₹1.57 lakh crore, with revenues from domestic transactions rising 11% and imports yielding 12% more taxes than a year ago.
GST In Charts: How Collections Have Fared In 2023
04, May, 23Here's a look at GST through the years and how the collections have fared on individual parameters: