Sun	Mon	Tue	Wed	Thu	Fri	Sat
27	28	29	30	31	1	2
3	4	5	6	7	8	9
10	11	12	13	14	15	16
17	18	19	20	21	22	23
24	25	26	27	28	29	30
31	1	2	3	4	5	6

Back to Main Page

Daily Current Affairs

India's net GST growth slows to 6.5% in August

Current GK (CDS) Indian Economy

01-Sep-24

Net goods and services tax (GST) collection fell 9.2 per cent to Rs 1.5 trillion in August from Rs 1.65 trillion in the previous month, particularly due to increased refunds. Even compared to the same month last year, net receipts growth slowed to 6.5 per cent in August compared to 14.4 per cent in July, according to provisional data released by the government.

The gross collection, which is the number before adjusting refunds, stood at Rs 1.75 trillion in August, with growth tapering slightly to 10 per cent Y-o-Y from 10.3 per cent in the previous month.
Gross revenue stood at Rs 1.82 trillion in July 2024.
In July and August 2023, it came in at Rs 1.66 trillion and Rs 1.59 trillion, respectively.
So far in the current financial year (FY25), the total GST collection has been 10.1 per cent higher at Rs 9.13 trillion, against Rs 8.29 trillion collected in the corresponding period of 2023. The August figures capture goods and services transactions related to July.

छोटे Courses बड़े Results

Master Indian Economy

Prepare through Micro-courses