GST Collections Hit Record Rs 2.43 Lakh Crore in April, Up 8.7%

New Delhi, May 1: India’s gross Goods and Services Tax (GST) collections rose 8.7 per cent year-on-year to a record high of around Rs 2.43 lakh crore in April, according to government data released on Friday.

The latest figures surpass the previous all-time high of over Rs 2.23 lakh crore recorded in April last year.

Revenue from domestic transactions increased by 4.3 per cent to more than Rs 1.85 lakh crore, while GST collections from imports saw a sharp rise of 25.8 per cent, reaching Rs 57,580 crore during the month.

Refunds also registered a significant increase of 19.3 per cent to Rs 31,793 crore in April.

After accounting for refunds, the net GST collection stood at approximately Rs 2.11 lakh crore, reflecting a growth of 7.3 per cent compared to the same period last year. (Agencies)