Finance Desk – In December 2024, India collected Rs 1.77 lakh crore from Goods and Services Tax (GST), showing a 7.3% increase from the previous year’s Rs 1.65 lakh crore. This revenue includes different types of GST: Rs 32,836 crore from Central GST, Rs 40,499 crore from State GST, Rs 47,783 crore from Integrated GST, and Rs 11,471 crore from GST Cess.
Domestic transactions brought in Rs 1.32 lakh crore, an 8.4% growth, while taxes on imports contributed Rs 44,268 crore, up by about 4%. Although this December’s collection is strong, it’s slightly less than November’s Rs 1.82 lakh crore.
The government also issued Rs 22,490 crore in tax refunds this December, a 31% increase from last year. After these refunds, the net GST revenue for the month stands at Rs 1.54 lakh crore, a 3.3% increase.
Experts suggest that this growth in GST collections aligns with the overall economic conditions. If the economy improves, GST revenue is expected to increase as well. This data also reflects the competition in tax collection between central and state authorities, with states managing 40% more GST registrations but only collecting 13% more in GST than the central authorities.
