GST Collection: The Finance Ministry said on Wednesday that Goods and Services Tax (GST) collection in January increased by 10.4 percent to more than Rs 1.72 lakh crore.
GST Collection: The Finance Ministry on Wednesday said that Goods and Services Tax (GST) collection in January increased by 10.4 percent to more than Rs 1.72 lakh crore. This is the second highest monthly collection so far and this is the third month in this financial year when a collection of Rs 1.70 lakh crore or more has been made.
10 percent more collection than last year
The Finance Ministry said, “The gross GST revenue collected in the month of January, 2024 (up to 05:00 pm on 31.01.2024) is Rs 1,72,129 crore, which is Rs. 1,72,129 crore compared to the previous year in January, 2023 (up to 05:00 pm on 31.01.2023). This is 10.4 per cent more than the Rs 1,55,922 crore collected in 2016.”
In the current financial year, from April 2023 to January 2024, the total gross GST collection has increased by 11.6 percent on an annual basis. In these 10 months, this figure increased from Rs 14.96 lakh crore a year ago to Rs 16.69 lakh crore. The highest ever monthly GST collection of Rs 1.87 lakh crore was recorded in April 2023.
