Goods and Services Tax (GST) NEW DELHI: Goods and services tax (GST) collections rose 16.4% to Rs 2,01,050 crore in May, the fastest pace of expansion since Oct 2022, on the back of a jump in taxes on imports.Latest data estimated that during May (for transactions in April), GST collections from imports rose 25.2% to…
New Delhi: GST collections grew by 12.6% – the fastest pace of expansion in 17 months – to reach a record Rs 2,36,716 crore in April, buoyed by an over 20% jump in mop-up from imports.Collections from domestic sources were 10.7% higher at a little under Rs 1.9 lakh crore, while gross import revenue rose…
India’s GST revenue collection saw an increase of 9.9% year-over-year, reaching Rs 1.96 lakh crore in March. The breakdown shows Central GST at Rs 38,100 crore, whilst State GST reached Rs 49,900 crore. The Integrated GST amounted to Rs 95,900 crore, and GST cess collections totalled Rs 12,300 crore for March.Abhishek Jain, Indirect Tax Head…