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.
National News Mahesh Dixit Appointed New Intelligence Bureau Director The Government of India has appointed…
The Indian Air Force (IAF) strengthened the long range precision strike by getting around 40…
Indian schools have achieved the milestone as total 7 Indian schools secured places in Top…
India achieved the milestone as it commissioned the world’s first hydrogen production facility, which is…
Honorable Japanese Prime Minister Sanae Takaichi is scheduled to visit New Delhi from 1st to…
The India-Seychelles defense partnership has been emerged as the key pillar of maritime security in…