However, a quick analysis shows the growth in GST mop-up shows fatigue. In July 2024, the gross collection increased 10.3% to ₹1.82 lakh crore, while in August 2023, it had risen by 11% to ₹1.59 lakh crore.
The slowdown in net collection was even more prominent with August mop-up rising a mere 6.5% to ₹1.50 lakh crore.
This is on account of a 38% rise in refunds. In July, the net GST collection was up 14.14%.
This story is from the September 02, 2024 edition of The Morning Standard.
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This story is from the September 02, 2024 edition of The Morning Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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