The Goods and Services Tax (GST) collection in April rose 8.7% year-on-year to Rs 2.42 lakh crore, primarily driven by the surge in import revenue reveals the data released by the Finance Ministry on Friday.
The total collection from the CGST stood at Rs 52.14 thousand crore , while SGST and Import GST stood at Rs. 61.3 thousand crore and Rs 1.29 lakh crore respectively. The gross import revenue rose by nearly 26% to Rs 57.58 thousand crore in April.
After accounting for all refunds, the total net GST revenue for the month stood at Rs 2.1 lakh crore, reflecting a 7.3% increase over Rs 1.96 lakh crore collected in the same month of the previous year. The total refunds in April also went up by more than 19% reaching Rs 31.79 thousand crores.
Most large states saw double-digit increases in GST collection with Punjab and Chandigarh accounting for the highest growth rate of 65% and more. However, the annual collection of GST for FY 26 has gone down significantly for most of the states. Sikkim accounted for the highest fall in the annual collection as it went down by nearly 45%, followed by Himachal Pradesh and Uttrakhand.
Despite GST 2.0 implementation, the annual collection went up significantly with Karnataka accounting for the highest growth of 14% in collection.