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GST collections rise to second highestever at Rs 1.72 lakh cr in Jan

GST collections rise to second highestever at Rs 1.72 lakh cr in Jan

Goods and Services Tax collections jumped 10.4 per cent to over Rs 1.72 lakh crore in January, reflecting buoyant economic activity and setting the stage for the next phase of GST reforms.This is the second-highest monthly collection ever and marks the third month in this financial year with a collection of Rs 1.70 lakh crore or more, a finance ministry statement said on Wednesday.

"The gross GST revenue collected in the month of January 2024 (till 05:00 PM of 31.01.2024) is Rs 1,72,129 crore, which shows a 10.4 per cent y-o-y growth over the revenue of Rs 1,55,922 crore collected in January 2023 (till 05:00 PM on 31.01.2023)," the ministry said.

 

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