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Informist, Saturday, Feb. 1, 2025

 

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--India Jan GST cess collections INR 134 bln 
--India Jan Integrated GST collections INR 1.01 tln 
--India Jan State GST collections INR 449 bln 
--India Jan Central GST collections INR 361 bln 
--India Jan total GST mop-up INR 1.96 tln, up 12.3% on year 
--India Jan total GST mop-up INR 1.96 tln

 

NEW DELHI – India's goods and services tax collections grew 12.3% on year to INR 1.955 trillion in January, data released by the government Saturday showed. After recording an on-month fall for the previous two consecutive months, the GST collections jumped 10.5% in January on a monthly basis. Moreover, the on-year growth in GST collections in January is highest since April. 

 

GST collections were INR 1.769 trillion in December, up 7.3% on year, and down 3% on month. 

 

Of the total collections in January, Central GST accounted for INR 360.77 billion, State GST was INR 449.42 billion, Integrated GST accounted for INR 1.011 trillion, and INR 134.12 billion was from compensation cess. GST revenue, net of refunds, was INR 1.717 trillion in January, up 10.9% on year.

 

Gross domestic GST revenue rose 10% on year to INR 1.471 trillion in January, while the import revenue grew 19.8% to INR 483.82 billion. Refunds during the month rose 24% on year to INR 238.53 billion. 

 

In Apr-Jan, GST collections were up 9.4% on year at INR 18.291 trillion. The post-settlement revenues of states rose 12% on year to INR 8.038 trillion in the first 10 months of the current financial year ending March.  End

 

Reported by Krity Ambey

Edited by Akul Nishant Akhoury

 

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