WITH OVERALL COLLECTION REACHING RS16.69 LAKH CRORE, GST COLLECTIONS REGISTER 11.6% Y-O-Y GROWTH IN 10-MONTH PERIOD; THE GOVERNMENT HAS SETTLED RS43,552 CRORE TO CGST AND RS37,257 CRORE TO SGST FROM THE IGST COLLECTION
FinTech BizNews Service
Mumbai, February 1, 2024: The gross GST revenue collected in the month of January, 2024 (till 05:00 PM of 31.01.2024) is Rs1,72,129 crore, which shows a 10.4% Year-o-Year (Y-oY) growth over the revenue of Rs155,922 crore collected in January 2023 (till 05:00 PM on 31.01.2023).
Notably, this is the second highest monthly collection ever and marks the third month in this financial year with collection of Rs1.70 lakh crore or more. The government has settled Rs43,552 crore to CGST and Rs37,257 crore to SGST from the IGST collection.
During the April 2023-January 2024 period, cumulative gross GST collection witnessed 11.6% y-o-y growth (till 05:00 PM of 31.01.2024), reaching Rs16.69 lakh crore, as against Rs14.96 lakh crore collected in the same period of the previous year (April 2022-Jannuary 2023).
The chart shows trends in monthly gross GST revenues during the current year. The data is as of 05:00 PM today (i.e. 31.01.2024). Final collection for the month would be higher.
