India’s GST collections top Rs 1.77 trillion in December, sustain 10-month streak
New Delhi: India’s goods and services tax (GST) collections reached Rs 1.77 trillion in December, marking the tenth consecutive month of collections surpassing Rs 1.7 trillion, according to government data released on Wednesday.
December’s collections represent a 7.3% year-on-year increase from Rs 1.65 trillion in December 2023 but remain below the peak of Rs 2.1 trillion recorded in April 2024.
The figure also falls short of November 2024’s Rs 1.82 trillion, which marked an 8.5% year-on-year growth.
Central GST amounted to Rs 32,836 crore, while State GST and Integrated GST contributed Rs 40,499 crore and Rs 47,783 crore, respectively. Cess collections stood at Rs 11,471 crore.
Domestic transactions accounted for Rs 1.32 trillion, reflecting an 8.4% year-on-year increase. GST revenues from imports grew by 4% year-on-year, reaching Rs 44,268 crore.
Refunds issued in December totalled Rs 22,490 crore, a 31% rise from December 2023.
After adjusting for refunds, net GST collections grew by 3.3% year-on-year to Rs 1.54 trillion.
Central GST stood at Rs 34,141 crore, State GST at Rs 43,047 crore, and Integrated GST at Rs 91,828 crore.
Cess collections reached Rs 13,253 crore.
The consistent rise in GST revenues indicates an improved economic performance compared to the previous quarter, despite broader economic challenges.
India’s GDP growth in the second quarter of the financial year slowed to 5.4%, a seven-quarter low, compared to 6.7% in the April-June period.
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