Goods and Services (GST) collections in December increased by 7.3 percent year-on-year to Rs. 1.77 lakh crore was recorded. This is the tenth consecutive month when the GST collection figure has been above Rs 1.70 lakh crore. The central government had announced these figures on Wednesday.
A year ago in December 2023, the government had allocated Rs. GST collection of Rs 1.65 lakh crore was done. However, in April Rs. The December collection is far away from the GST collection figure of Rs 2.1 lakh crore. According to the GST collection data released by the government, CGST collection in the month of December stood at Rs 32,836 crore.
Apart from this, SGST was Rs 40,499 crore. Whereas IGST collection stood at Rs 9,22,391 crore. Apart from this, cess revenue is Rs. 12,301 crore was recorded.
Better performance than last quarter
Talking about December quarter, GST collection was better than the previous quarter. The average GST collection from October to December was Rs 1.82 lakh crore, whereas in the previous quarter the average was Rs 1.82 lakh crore. 1.77 lakh crore. GST collection in the December quarter increased by 8.3 percent as compared to the previous quarter. The increase in GST collections indicates better economic performance compared to the previous quarter. The Indian economy faltered in the second quarter. The growth rate declined from 6.7 percent to a seven-month low of 5.4 percent in the April-June quarter. RBI expects the economy to grow at 6.6 percent in fiscal year 2025.
