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Centre, States Collect Record ₹2.43 Trillion in Gross April GST Revenue
Import-led revenues rose 25.8% as net GST collections climbed 7.3% after refunds, government data showed.
- On Friday, the government reported that gross GST collections reached a record Rs 2.43 lakh crore in April, marking an 8.7 per cent increase over the same month last year.
- Import-Led revenues drove this growth, jumping 25.8 per cent to Rs 57,580 crore, while gross domestic revenue rose by a more modest 4.3 per cent to Rs 1.85 lakh crore.
- After adjusting for refunds, Net Goods and Services Tax collections rose 7.3 per cent to Rs 2.11 lakh crore, with refunds increasing 19.3 per cent to Rs 31,793 crore during April.
- Deloitte India Indirect Tax Leader Mahesh Jaising attributed steady domestic performance to GST-2 rationalization measures, which support consumption and demand without materially eroding the tax base.
- Union Minister Piyush Goyal urged leveraging Free Trade Agreements to expand market access, while India Tax Partner Saurabh Agarwal emphasized incentivizing domestic manufacturing to ensure global competitiveness.
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India collects 2.43 trillion rupees in goods and services tax in April
India collected 2.43 trillion rupees ($25.61 billion) in goods and services tax in April, a rise of 8.7% from last year, the government said in a statement on Friday. (Reuters) The post India collects 2.43 trillion rupees in goods and services tax in April appeared first on Newswire.
Coverage Details
Total News Sources16
Leaning Left1Leaning Right2Center2Last UpdatedBias Distribution40% Center, 40% Right
Bias Distribution
- 40% of the sources are Center, 40% of the sources lean Right
40% Right
L 20%
C 40%
R 40%
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