Record-Breaking GST Revenue in April

The Goods and Services Tax (GST) revenue in April achieved a monumental high of Rs 2.37 lakh crore, showcasing a significant 12.6% increase compared to the previous year. This figure not only sets a new record but also surpasses the previous peak of Rs 2.10 lakh crore recorded in April 2024.

Domestic and Imported Goods Contribute to Growth

Revenue from domestic transactions saw a 10.7% increase, amounting to Rs 1.9 lakh crore, while imports contributed a 20.8% growth, reaching Rs 46,913 crore. Additionally, the government issued refunds worth Rs 27,341 crore, a 48.3% increase from the previous year.

Net GST Collection Shows Steady Growth

After accounting for refunds, the net GST collection demonstrated a 9.1% growth, totaling over Rs 2.09 lakh crore in April. This consistent growth underscores the robustness of the GST regime since its inception in July 2017.

Budget Forecasts Optimistic

The government's Budget forecasts are optimistic, anticipating an 11% rise in GST revenue, with projected collections of Rs 11.78 lakh crore. This includes both Central GST and compensation cess components, signaling confidence in the tax system's efficiency and the economy's recovery.