The Union and state governments collected gross Goods and Services Tax (GST) revenue of ₹1.76 trillion in December, the lowest in three months, but showing an improvement of 7.3% from a year ago, official data showed.
After adjusting for tax refunds, GST revenue collection stood at ₹1.54 trillion, showing annual growth of 3.3%. The gross GST receipts had touched a record high of ₹2.1 trillion in April 2024 on the back of strong financial year-end inventory clearing by companies in March but subsequently moderated. Revenue collection crossed ₹1.8 trillion mark only four times in the nine months up to December, including April.
This story is from the January 02, 2025 edition of Mint Bangalore.
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This story is from the January 02, 2025 edition of Mint Bangalore.
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