Finance Minister Nirmala Sitharaman said in the Lok Sabha that the Goods and Services Tax (GST) collection has consistently increased on an annual basis since its introduction on July 1, 2017. The average monthly GST collection for the current fiscal is Rs 1.66 lakh crore, marking an 11% increase over the same period in the previous financial year
In October, India s Goods and Services Tax (GST) collections rose 13% to Rs 1.72 lakh crore, the second-highest monthly collection this fiscal year. The strong performance was attributed to festive demand and a steady economic growth trajectory. This achievement marked the eighth consecutive month with collections surpassing Rs 1.5 lakh crore.
India s goods and services tax collections grew 11 per cent to Rs 1.60 lakh crore on an annual basis in August, revenue secretary Sanjay Malhotra said on Friday. "Roughly numbers are in the range of 11 per cent year on year growth as in earlier months," PTI quoted Malhotra as saying.
The revenues for the month of May 2023 are 12 per cent higher than the GST revenues in the same month last year, read a statement by the finance ministry
This happened for the fourth time in the current financial year that the gross GST collection has crossed ₹1.5 lakh crore, marking the second-highest collection ever