GST collections 7.3% up in December, totaling Rs 1.77 lakh crore

India’s Goods and Services Tax (GST) revenue saw a 7.3 per cent year-on-year growth in December, reaching Rs 1.77 lakh crore, up from Rs 1.65 lakh crore collected during the corresponding period last year, according to government data released on Wednesday.
Breaking down the figures, central GST (CGST) accounted for Rs 32,836 crore, State GST (SGST) for Rs 40,499 crore, Integrated GST (IGST) for Rs 47,783 crore, and Cess for Rs 11,471 crore.
Domestic GST revenues grew 8.4 per cent to Rs 1.32 lakh crore, while GST from imports increased by approximately 4 per cent to Rs 44,268 crore during December.
However, the GST collections in December were lower than November’s Rs 1.82 lakh crore, which saw an 8.5 per cent annual growth. The all-time high GST collection was recorded in April 2024, exceeding Rs 2.10 lakh crore.
Additionally, Rs 22,490 crore in refunds were issued in December, marking a 31 per cent rise compared to the previous year. After accounting for refunds, the net GST collection stood at Rs 1.54 lakh crore, reflecting a 3.3 per cent year-on-year increase.