Daily Current Affairs on GST collection hits highest-ever monthly record in April to ?1.87 lakh crore for RBI Grade B Exam Preparation

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GST collection hits highest-ever monthly record in April to ?1.87 lakh crore

India's April gross GST revenues reached a record high of Rs.1,87,035 crore, a 12% increase from last year's highest tax tally of Rs. 1.67 lakh crore for the same month.

  • Domestic GST revenues, including import of services, rose 16% YoY in April.
  • Goods import figures were not revealed, but had increased 8% in March according to the Finance Ministry.In April, GST Compensation Cess collections reached a new record of Rs. 12,025 crore, including Rs. 900 crore from imports.
  • This surpasses the previous high of Rs. 11,931 crore in February.Further, on April 20 taxpayers made a record-breaking GST contribution of Rs. 68,228 crore through 9.8 lakh transactions, according to the ministry. This was the highest ever single day GST collection.

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