GST collections rise 12% to touch Rs 14.97 lakh crore in April-Dec
The government's Goods and Services Tax (GST) collections increased 10 per cent year-on-year in December, 2023 to Rs 1.65 lakh crore, the Ministry of Finance said on Monday.
IANS
Jan 1, 2024 05:57
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New Delhi, Jan 1 (IANS) The government's Goods and Services Tax (GST) collections increased 10 per cent year-on-year in December, 2023 to Rs 1.65 lakh crore, the Ministry of Finance said on Monday.
The gross GST collection for April-December 2023 now works out to Rs 14.97 lakh crore which represents a 12 per cent growth over the same period of the previous year.
This is the tenth month in a row that the monthly GST collection has exceeded the Rs 1.5 lakh crore mark.
Monthly GST collections have risen over the years. From averaging under Rs 1 lakh crore per month in 2017-18 - its first year, collections rose rapidly after the pandemic-hit 20202-21 to average Rs 1.51 lakh crore in 2022-23.
The collections have been rising due to the increased economic activity and also due to the higher compliance that has resulted through a more efficient tax administration.
