GST mop-up hits record at Rs 2.10 lakh-cr

April figures reflect robust economy; may usher in next wave of reforms

NEW DELHI: Goods and Services Tax collections grew 12.4 per cent to a record high of Rs 2.10 lakh crore in April, aided by strong economic momentum and increased domestic transactions and imports, the finance ministry said on Wednesday.

The GST collections have breached the Rs 2 lakh crore mark for the first time in April this year, it said in a statement.

“The Gross Goods and Services Tax (GST) collections hit a record high in April 2024 at Rs 2.10 lakh crore. This represents a significant 12.4 per cent year-onyear growth, driven by a strong increase in domestic transactions (up 13.4%) and imports (up 8.3%),” the ministry said.

The GST revenue, which is basically taxes on goods sold and services rendered, was more than Rs 1.78 lakh crore last month, while it stood at Rs 1.87 lakh crore in April 2023.

Finance Minister Nirmala Sitharaman in a post on ‘X’ lauded the efforts of tax officers for achieving the milestone.

“GST collection crosses Rs 2 lakh crore benchmark, thanks to the strong momentum in the economy and efficient tax collections,” she said.

Tax experts said robust GST revenues in April reflect a buoyant economy, self-compliance by businesses, timely audit and scrutiny, besides enforcement measures taken by the department. The increased collections also raise expectations of ushering in next wave of GST reforms.

Among states, Uttar Pradesh has overtaken Tamil Nadu in terms of monthly GST collections by recording a 19% increase in tax revenues in April.

According to official data, the GST collections in Uttar Pradesh grew 19% to Rs 12,290 crore in April 2024, becoming the fourth largest contributor after Maharashtra, Karnataka and Gujarat. Tamil Nadu, which saw a 6% rise in GST mop-up to Rs 12,210 crore in the month slipped to fifth place.