NewDelhi : The Gross Goods and Services Tax (GST) collections hit a record high in April 2024 at ₹2.10 lakh crore. This represents a significant 12.4% year-on-year growth, driven by a strong increase in domestic transactions (up 13.4%) and imports (up 8.3%). After accounting for refunds, the net GST revenue for April 2024 stands at ₹1.92 lakh crore, reflecting an impressive 15.5% growth compared to the same period last year.
The GST revenue of Odisha grew by 17% to Rs.5902 crore as against Rs. 5036 crore in April 2023. Out of the 2.10 lakh crore, Central Goods and Services Tax (CGST) was Rs.43,846 crore, State Goods and Services Tax (SGST) was 53,538 crore and Integrated Goods and Services Tax (IGST) was Rs. 99,623 crore, including ₹37,826 crore collected on imported goods and Cess: Rs.13,260 crore, including ₹1,008 crore collected on imported goods.
In the month of April, 2024, the central government settled ₹50,307 crore to CGST and ₹41,600 crore to SGST from the IGST collected. This translates to a total revenue of ₹94,153 crore for CGST and ₹95,138 crore for SGST for April, 2024 after regular settlement.