Record 2.10 lakh crore GST collection in April: 12.4% increase on annual basis, before this the highest collection was 1.87 lakh crore.

The government has collected a record Rs 2.10 lakh crore from Goods and Services Tax i.e. GST in April 2024. This is the highest GST collection collected in any month so far. The previous highest collection was Rs 1.87 lakh crore, which was done in April 2023. Gross GST collection has increased by 12.4% on an annual basis. Whereas in the last month i.e. March 2024, GST collection was Rs 1.78 lakh crore. That is, there is an increase of 18% in the collection on month-on-month basis. The government issued refunds worth Rs 18 thousand crores. CGST was Rs 43,846 crore, SGST was Rs 53,538 crore. According to the Finance Ministry, in the GST collection of ₹ 2,10,267 crore for April, CGST was Rs 43,846 crore and SGST was Rs 53,538 crore. IGST stood at Rs 99,623 crore (including Rs 37,826 crore collected on import of goods) and cess at Rs 13,260 crore. Cess includes Rs 1008 crore received from import of goods. GST was implemented in 2017. GST is an indirect tax. It was implemented in 2017 to replace a variety of previous indirect taxes (VAT), service tax, purchase tax, excise duty and many other indirect taxes. GST has four slabs of 5, 12, 18 and 28%.

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