GST collection hits record high of ₹2.10 trillion in April

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₹2.10 trillion in April, according to the finance ministry data on Wednesday. The GST collection breached the ₹2 trillion mark for the first time, reflecting robust economic growth and administrative efficiency in tax mop-up. The revenue collected by the Centre and states on goods and services consumed in the country in April was 12.4% higher year-on-year, as per data from the finance ministry.

“This represents a significant 12.4% year-on-year growth, driven by a strong increase in domestic transactions, up 13.4%, and imports, up 8.3%," the ministry said in a statement. After accounting for refunds, the net GST revenue for April stood at ₹1.92 trillion, 17.1% higher than the same period last year. In March, the government collected the second highest monthly receipt of ₹1.78 trillion, since the unified indirect tax was introduced in July 2017.

The consistent uptrend in collections was indicative of formidable domestic economic growth, tax experts said. “The consistent growth in GST collections with this one being the highest collection ever is a big cheer and reflects upon the strong domestic economy, especially given the fact that growth on account of domestic transactions is 13.4% as compared to imports which is at 8.3%," said Abhishek Jain, partner & national head, indirect tax, KPMG. He noted that another significant reason could be linked to deadline for GST audits and corresponding notices issued during this year.

The Central Goods and Services Tax (CGST) was ₹43,846 crore in the month, with the state Goods and Services Tax (SGST) contributing ₹53,538 crore. Integrated Goods and Services Tax (IGST) was ₹99,623 crore, which included ₹37,826 crore collected on imported goods. GST from cess levied on automobiles,