NEW DELHI: The Goods and Services Tax (GST) collection in September rose 10% year-on-year to Rs 1.63 lakh crore. This is the fourth time that the gross GST collection has crossed the Rs 1.60 lakh crore mark in 2023-24. In August this year, the collections had fallen below the Rs 1.60 lakh crore mark to Rs 1.57 lakh crore.
The total GST collection in the first six months of the financial year has crossed Rs 9.9 lakh crore, and if the trend continues, the full-year collection could cross Rs 20 lakh crore. In the first half (April-September) of the last financial year, the total collection had stood at Rs 8.9 lakh crore.
The average monthly GST collection this year (till September) has been Rs 1.65 lakh crore, which is 11% higher than Rs 1.49 lakh crore during the corresponding period last year. According to a finance ministry statement, revenues from domestic transactions (including import of services) in September are 14% higher than revenues from these sources during the same month last year. Most large states saw double-digit increases in GST collection barring Bihar, West Bengal, Assam, Jharkhand and Haryana. Bihar saw a decline of 5% year on year.