INVC NEWS
Mumbai : Another good news has come for Modi government on the economic front amid the Lok Sabha elections. Gross GST (Goods and Services Tax) collection reached a record level of Rs 2.10 lakh crore in April 2024. GST collections have increased by 12.4 percent compared to last year due to strong growth in domestic transactions and imports. The Finance Ministry said in the statement that for the first time GST collection crossed the historic milestone of Rs 2 lakh crore. According to Finance Ministry data, domestic transactions increased by 13.4 percent and imports increased by 8.3 percent.
After refunds, net GST revenue for April 2024 stood at Rs 1.92 lakh crore, showing an impressive growth of 17.1 per cent compared to the same period last year. CGST collection in April was Rs 43,846 crore, SGST collection was Rs 53,538 crore and IGST collection was Rs 99,623 crore, which included Rs 37,826 crore collected on imported goods. Cess collection was Rs 13,260 crore, which included Rs 1,008 crore collected on imported goods.
