In January, GST receipts increase by 10% to ₹1.72 lakh crore

In January, GST receipts increase by 10% to ₹1.72 lakh crore

In January, GST receipts increase by 10% to ₹1.72 lakh crore

Over the course of ten months, GST receipts increase by 11.6% annually, totaling ₹16.69 lakh crore.

Over the course of ten months, GST receipts increase by 11.6% annually, totaling ₹16.69 lakh crore.

The Finance Ministry said on Wednesday that the total GST income received in January 2024 was ₹1,72,129 crore, representing a 10.4% year-over-year (y-o-y) increase over the revenue of ₹155,922 crore collected in January 2023. As said.

Notably, this is the third month this fiscal year with collections of at least ₹1.70 lakh crore, and it is also the second largest monthly collection ever. From IGST receipts, the government has paid ₹43,552 crore to the CGST and ₹37,257 crore to the SGST.

Between April 2023 and January 2024, cumulative gross GST collections increased by 11.6% annually (till 5:00 PM on January 31, 2024), totaling ₹16.69 lakh crore, compared to ₹14.96 lakh crore during the prior comparable period. Crores of rupees were gathered. Year 2022–2023 (April–January).

The total gross GST receipts from April 2023 to January 2024 increased impressively by 11.6% annually to ₹16.69 lakh crore.