India’s goods and services tax (GST) collection in April rose 12 per cent year-on-year to hit an all-time high of Rs 1.87 trillion, the finance ministry data showed on Monday. The robust mop-up was mainly driven by a boost in year-end sales, data analytics ensuring better compliance, and sustained economic growth.
The previous highest collection was Rs 1.68 trillion in April last year, while the mop-up stood at Rs 1.60 trillion in March this year.
April 2023 also saw the highest ever tax collection on a single day. “On April 20, Rs 68,228 crore was paid through 9.8 lakh transactions,” the ministry said in a release.
Prime Minister Narendra Modi hailed it as “great news for the Indian economy”. “Rising tax collection despite lower tax rates shows the success of how GST has increased integration and compliance,” he tweeted.
Of the gross GST collection, Central GST stood at Rs 38,440 crore, SGST at Rs 47,412 crore, IGST at Rs 89,158 crore (including Rs 34,972 crore collected on import of goods), and cess at Rs 12,025 crore, according to the data.
The finance ministry said that after the settlement of interstate transactions, the Centre collected Rs 84,304 crore as Central GST, while states collected Rs 85,371 crore as SGST.