GST collection in March: The revenue of tax collection in the central government treasury is continuously increasing. The GST collection rose 9.9 per cent to Rs 1,24,444 crore in March, the last month of the last financial year 2024-25. A work of Rs 1.96 lakh crore has been done.
According to the data released by the government, the GST collection increased by 9.9 percent to Rs 1,24,444 crore in March. It has increased from 1.96 lakh crores to 1.96 lakh crores. In which domestic GST revenue increased by 8.8 percent to Rs. 1.49 lakh crores While the revenue stored through GST on imported goods increased by 13.56 percent to Rs 1,24,444 crore. 46919 crores The total refund increased by 41 percent to Rs 1,000 crore during March. 19615 crore work has been done. After the adjustment of the refund, in March 2025, the net GST of Rs. More than 1.76 lakh crore has been registered. Which is a 7.3 percent increase compared to the same period of the previous year.
GST collection again close to two lakh crores
In January-25, the government’s GST collection rose 12.3 per cent over the previous year. Last month, Central GST Collection Rs. 36100 crore and State GST Collection Rs. 44900 crore was recorded. In December i.e. December, on a monthly basis, Rs. The GST collection fell from Rs 1.76 lakh crore. For the first time in April 2024, the government will get Rs 1000 crore, Rs 2 lakh crore. In March this year, Rs. With the revenue of Rs 1.96 lakh crore, there are indications that the GST collection will again cross the Rs 2 lakh crore mark in April.
GST was implemented in 2017.
In July 2017, GST was implemented across the country in place of the old indirect tax system. This was the biggest tax reform in the country after independence. GST was implemented to reduce tax burden and bring it under single tax system. GST has four slabs. 5 percent on basic products, 12 percent on standard goods, 18 percent on consumer products and 28 percent GST on luxury products.
The post spills government treasury in the last month of FY 2024-25, 10 percent increase in GST collection first appeared on News India Live | Breaking India News, The Indian Headline, India Express News, Fast India News.
