GST Collection for November Rises by 8.5% to ₹1.82 Trillion
India’s Goods and Services Tax (GST) revenue rose by 8.5% to ₹1.82 lakh crore in November 2024, compared to ₹1.68 lakh crore in the same month last year. The growth is primarily driven by higher revenues from domestic transactions, with GST from domestic transactions increasing by 9.4%. This increase is significant, though it follows a previous high of ₹1.87 lakh crore in October, which marked the second-best collection in GST history. In April 2024, India recorded its highest-ever GST collection of over ₹2.10 lakh crore.
Domestic Transactions: GST collection from domestic transactions grew by 9.4%, amounting to ₹1.40 lakh crore.
Imports: Revenues from imports saw a 6% rise, totaling ₹42,591 crore.
Refunds: Refunds worth ₹19,259 crore were issued, a decline of 8.9% compared to the same period last year.
Net GST Collection: After adjusting for refunds, the net GST collection increased by 11%, reaching ₹1.63 lakh crore.
India has many cities that are famous for their unique industries, and some of them…
Some deserts are extremely hot, but some remain cold throughout the year. These cold deserts…
In today’s world, news media plays a very important role in sharing information quickly and…
PNB Housing Finance has announced the appointment of Ajai Kumar Shukla as its new Managing…
In a major push towards deepening financial inclusion, the Department of Posts (DoP) and BSE,…
India’s retail inflation, measured by the Consumer Price Index (CPI), increased modestly to 0.71% in…