GST collections rose 6.5% year-on-year to Rs 1.73 lakh crore in September, figures released
New Delhi| Goods and Services Tax (GST) collection in the month of September stood at Rs 1.73 lakh crore, an annual increase of 6.5 per cent grossly. The total collection in September 2023 was Rs 1.62 lakh crore. The Finance Ministry released this data on Tuesday.
According to official data, CGST, SGST, IGST and cess all increased on an annual basis in September. Total GST collections so far in 2024 have increased by 9.5 per cent to Rs 10.9 lakh crore, compared to Rs 9.9 lakh crore collected in the same period of 2023.
Total GST collection in April this year had reached a record high of Rs 2.10 lakh crore. The total gross GST collection during the financial year 2023-24 stood at Rs 20.18 lakh crore. This figure is 11.7 per cent higher than the previous financial year.
The average monthly collection for the financial year ended March 2024 stood at Rs 1.68 lakh crore, up from the previous year’s average of Rs 1.5 lakh crore.
