Data Alert
September GST mop-up INR 1.732 tln, up 6.5% on year
This story was originally published at 19:36 IST on 1 October 2024
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--India September GST cess mop-up INR 119 bln vs INR 116 bln year ago
--India September Integrated GST mop-up INR 906 bln vs INR 836 bln year ago
--India September State GST mop-up INR 393 bln vs INR 377 bln year ago
--India September Central GST mop-up INR 314 bln vs INR 298 bln year ago
--India September total GST collections up 6.5% on year
--India September total GST mop-up INR 1.732 tln vs INR 1.627 tln year ago
NEW DELHI – India's goods and services tax collections grew 6.5% on year to INR 1.732 trillion in September, government data released Tuesday showed. This is the slowest on-year growth in collections since June 2021, at the peak of the second wave of COVID-19. The GST mop-up had grown 10% on year to INR 1.750 trillion in August.
GST revenue, net of refunds, was INR 1.528 trillion in September, up 3.9% from a year ago. Of the total collections last month, INR 314 billion was from Central GST, INR 393 billion from State GST, INR 906 billion from Integrated GST and INR 119 billion from compensation cess.
The gross domestic GST revenue rose 5.9% on year to INR 1.279 trillion in September, while the import revenue was up 8% to INR 454 billion. Total refunds were up by 31% on year to INR 205 billion in September.
The slowdown in growth is due to a high base from robust GST collections in the corresponding period last year as the government had collected a considerable amount of money from the special drive to weed out fake input tax credit that was ongoing at that time, a senior finance ministry official said.
The government had made quite a lot of recovery in August and September 2023 owing to the drive, the official said. The government launched a special fourth-month drive in May 2023 to weed out fake GST registrations to prevent revenue loss to the government. Owing to the success of the drive, a second such drive to identify fake and suspicious registrations under the GST regime was launched on Aug. 16 and is currently underway.
The post-settlement revenues of states rose 11% on year to INR 4.708 trillion in Apr-Sep. End
Reported by Priyasmita Dutta
Edited by Saji George Titus
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