GST collections rise 10% to ₹1.72 lakh crore in January

  • With overall collection reaching 16.69 lakh crore, GST collections register 11.6% Y-o-Y growth in 10-month period

Livemint
First Published31 Jan 2024, 07:35 PM IST
With overall collection reaching  <span class='webrupee'>₹</span>16.69 lakh crore, GST collections register 11.6% Y-o-Y growth in 10-month period
With overall collection reaching ₹16.69 lakh crore, GST collections register 11.6% Y-o-Y growth in 10-month period

The gross GST revenue collected in the month of January, 2024is 1,72,129 crore, which shows a 10.4% Year-o-Year (Y-oY) growth over the revenue of 155,922 crore collected in January 2023 finance ministry said on Wednesday.

Notably, this is the second highest monthly collection ever and marks the third month in this financial year with collection of 1.70 lakh crore or more. The government has settled 43,552 crore to CGST and 37,257 crore to SGST from the IGST collection.

During the April 2023-January 2024 period, cumulative gross GST collection witnessed 11.6% y-o-y growth (till 05:00 PM of 31.01.2024), reaching 16.69 lakh crore, as against 14.96 lakh crore collected in the same period of the previous year (April 2022-Jannuary 2023).

The cumulative gross GST collection from April 2023 to January 2024 witnessed an impressive 11.6 per cent year-on-year growth, reaching 16.69 lakh crore.

This substantial increase, compared to the 14.96 lakh crore collected in the corresponding period of the previous year (April 2022-January 2023).

The data depicts trends in monthly gross GST revenues throughout the current fiscal year, as per the Ministry.

It is anticipated that the final collection for the month would surpass the current estimate, further augmenting the overall GST revenue for January 2024.

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.MoreLess
First Published:31 Jan 2024, 07:35 PM IST
HomeEconomyGST collections rise 10% to ₹1.72 lakh crore in January

Most Active Stocks

Tata Steel

167.05
03:57 PM | 16 JUL 2024
0.25 (0.15%)

Oil & Natural Gas Corporation

322.40
03:58 PM | 16 JUL 2024
-0.15 (-0.05%)

Bandhan Bank

198.30
03:41 PM | 16 JUL 2024
2.95 (1.51%)

Coal India

512.35
03:59 PM | 16 JUL 2024
14.4 (2.89%)
More Active Stocks

Market Snapshot

  • Top Gainers
  • Top Losers
  • 52 Week High

Natco Pharma

1,281.05
03:59 PM | 16 JUL 2024
73.2 (6.06%)

Century Textiles & Industries

2,217.55
03:48 PM | 16 JUL 2024
116.85 (5.56%)

Tata Teleservices Maharashtra

81.33
03:54 PM | 16 JUL 2024
4.23 (5.49%)

India Cements

323.05
03:55 PM | 16 JUL 2024
15.8 (5.14%)
More from Top Gainers

Recommended For You

    More Recommendations

    Gold Prices

    • 24K
    • 22K
    Bangalore
    75,246.00928.00
    Chennai
    75,099.00344.00
    Delhi
    74,806.00-460.00
    Kolkata
    75,466.00419.00

    Fuel Price

    • Petrol
    • Diesel
    Bangalore
    102.86/L0.00
    Chennai
    100.76/L0.00
    Kolkata
    104.95/L0.00
    New Delhi
    94.72/L0.00
    OPEN IN APP
    HomeMarketsPremiumInstant LoanMint Shorts