Monthly GST Collections in India: Fiscal Year Trends
Overview:
Finance Minister Nirmala Sitharaman reported that the average monthly GST collection for the current fiscal year is Rs1.66 lakh crore.
There's been a consistent upward trend in GST collections since its implementation on July 1, 2017.
Current Fiscal Year Data:
Monthly Collections: Surpassed Rs.1.50 lakh crore every month.
Record High: Reached Rs.1.87 lakh crore in April.
Yearly Comparison:
FY 2023-24: Average monthly collection stands at Rs1.66 lakh crore, an 11% increase from the previous year.
FY 2022-23: Average collection was more than Rs1.50 lakh crore.
FY 2021-22: Average collection was Rs.1.23 lakh crore.
FY 2020-21: Average monthly mop-up was Rs94,734 crore.
Compliance and Enforcement:
Minister of State for Finance, Pankaj Chaudhary, noted that GST is self-assessed, and tax authorities continuously work to ensure compliance and address underpayment.
SRIRAM’s
Share:
Get a call back
Fill the below form to get free counselling for UPSC Civil Services exam preparation
