GST Collections in July 2024.
Gross GST collection in July 2024 recorded a 10.3 per cent rise to Rs 1,92,075 crore.
Gross GST collection in July 2024 recorded a 10.3 per cent rise to Rs 1,82,075 crore, according to the latest official data released on Thursday.
After accounting for refunds, the net GST revenue for July 2024 stands at Rs 1,44,897 crore, reflecting a growth of 14.4 per cent compared to the same period last year.
Abhishek Jain, Indirect Tax Head & Partner, KPMG, said, “An over 10 per cent growth in GST collections for this year vis-a-vis the last year aligns well with expectations and depicts signs of stability and maturity of GST implementation in India. With festivities coming up in the next few months, the collections should witness a further increase.”
During April-July 2024, gross GST revenue rose 10.2 per cent year-on-year to Rs 7,38,894 crore.
State-wise, in absolute terms, Maharashtra collected the highest GST at Rs 28,970 crore, followed by Karnataka (Rs 13,025 crore), Gujarat (Rs 11,015 crore), Tamil Nadu (Rs 10,490 crore), and Uttar Pradesh (Rs 9,125 crore), according to the latest official data. These collection figures do not include GST on the import of goods.
(The story will be updated)
