Announcing this, Finance Minister Nirmala Sitharaman on Wednesday said that India's gross GST revenue collection for April this year was an unprecedented high of Rs 2.10 lakh crore. It was an increase of 12.4 per cent over the previous year, backed by a robust surge in both domestic transactions, up by 13.4 per cent, and imports, which increased by 8.3 per cent.
After accounting for refunds, the net GST revenue for April 2024 is a staggering Rs 1.92 lakh crore, with an impressive 17.1 per cent growth compared to the corresponding period last year.
The Finance Ministry said that there has been a positive performance across components. The collections are as follows: Central Goods and Services Tax (CGST) at Rs 43,846 crore, State Goods and Services Tax (SGST) at Rs 53,538 crore, Integrated Goods and Services Tax (IGST) at Rs 99,623 crore, which includes Rs 37,826 crore collected on imported goods, and Cess at Rs 13,260 crore, which includes Rs 1,008 crore collected on imported goods.
As part of the inter-governmental settlement for Apri, the central government settled Rs 50,307 crore to CGST and Rs 41,600 crore to SGST from the IGST collected. This translates to a total revenue of Rs 94,153 crore for CGST and Rs 95,138 crore for SGST for April 2024 after regular settlement.
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