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India’s GST collection in December at Rs 1.49 lakh crore stands 15% higher than last year

GST collections robust

India’s gross goods and services tax (GST) revenue in December stood at Rs 1,49,507 crore, of which Rs 26,711 crore comprised Central GST and Rs 33,357 crore made up for State GST. Integrated GST revenue stood at Rs 78,434 crore (including Rs 40,263 crore collected on import of goods) and cess amounted to Rs 11,005 crore.

An official statement said that the revenues for December were 15 per cent higher than the GST revenues in the same month last year. During the month, revenues from import of goods was 8 per cent higher and the revenues from domestic transactions (including import of services) were 18 per cent higher than the revenues from these sources during the same month last year.

In November, India’s GST collection stood at Rs 1,45, 867 crore. GST collection for the entire financial year until now has been over Rs 1 lakh crore.

Maharashtra, Karnataka, Gujarat, Tamil Nadu and Uttar Pradesh are among the states to top the chart.

As GST is mainly the consumption tax, it gives a better picture of consumer confidence than a combination of taxes which have since been merged into this uniform tax structure.

Also read: India’s economy clocks 6.3% growth in July-September quarter