Financial year 2023-24 marked a milestone with total gross GST collection of Rs 20.14 lakh crore, exceeding Rs 20 lakh crore with a 11.7 per cent increase compared to the previous fiscal year.
The gross Goods and Services Tax (GST) revenue collected for February 2024 stood at Rs 1,68,337 crore, marking a robust 12.5 percent increase compared to that in the same month in 2023, the Union Finance Ministry said on Friday.
Emphasising "certainty and stability" in the tax structure, Revenue Secretary Sanjay Malhotra has said that any change in customs duty can be looked at in the full budget to be presented after the Lok Sabha polls and that the government is aiming Rs 1.83 lakh crore GST collection per mont
The Goods and Services Tax (GST) collection for January 2024 has recorded the second-highest monthly collection ever, according to the Ministry of Finance.
Subramanian said, "I think, going by the signs so far, in about 1.5-2 years, we can expect to touch two lakh crores rupees in a month. I think the GST collection doing well is part of the overall phenomenon of good policy that has been implemented. So overall, I think the good performance
Good and Services Tax (GST) Revenue collection for November 2023 stands at Rs 1,67,929 lakh crore recording the highest growth rate of 15 per cent Year-on-Year, an official statement issued by the Ministry of Finance said on Friday.
GST collections for October stood at Rs 1.72 lakh crore, which is the second highest ever, according to an official statement issued by the Finance Ministry on Tuesday.
It is the fourth time that the gross GST collection has crossed the Rs 1.60 lakh crore mark in the financial year 2023-24. Notably, in April, the gross GST collection was at an all-time high of Rs 187,035 crore.
According to the release, GST/VAT collection is continuously increasing in the state due to collective efforts. Revenue collection of Rs 98,107 crore was done in the year 2021-22, which has increased to Rs 1,07,406 crore in 2022-23. GST collection of more than Rs 37 thousand crore has been d