India’s GST collections held agency in Could, crossing the Rs 2 lakh crore mark for the second consecutive month. Gross receipts rose 16.4% year-on-year to Rs 2.01 lakh crore, authorities information launched on June 1 confirmed. This follows a record-breaking April, when GST revenues surged to Rs 2.37 lakh crore — the best ever.
Revenues from home transactions grew 13.7% to Rs 1.50 lakh crore in Could, whereas collections from imports climbed 25.2% to Rs 51,266 crore. The gross Central GST stood at Rs 35,434 crore, State GST at Rs 43,902 crore, and Built-in GST at roughly Rs 1.09 lakh crore. Cess collections contributed Rs 12,879 crore. A 12 months in the past, the Could 2024 mop-up stood at Rs 1.72 lakh crore.
Internet GST income after refunds got here in at Rs 1.74 lakh crore, marking a strong 20.4% bounce in comparison with the earlier 12 months. Refunds in Could fell 4% to Rs 27,210 crore.
Deloitte India Accomplice M S Mani advised PTI that state-wise progress remained uneven. Whereas states like Maharashtra, West Bengal, Karnataka, and Tamil Nadu posted assortment will increase between 17% and 25%, others resembling Gujarat, Andhra Pradesh, and Telangana noticed extra modest good points of as much as 6%. Madhya Pradesh, Haryana, Punjab, and Rajasthan reported median progress of round 10%.
“Thus, the typical progress throughout the nation doesn’t look like uniformly mirrored throughout states, probably on account of sectoral or seasonal components which require a deeper information primarily based evaluation,” Mani mentioned.
