&w=696&resize=696,0&ssl=1 "How much GST did Indians pay in December 2024? Govt information states …–")
The Central GST (CGST) collection made up Rs 32,836 crore, State GST (SGST) for Rs 40,499 crore, Integrated GST (IGST) for Rs 47,783 crore, and Cess for Rs 11,471 crore. The year-to-date (YTD) GST collections currently stand at Rs 16,33,569 crore
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India’s gross Goods and Services Tax (GST) income climbed up 7.3 percent year-on-year to Rs 1.77 lakh crore in December, according to federal government information launched Wednesday (January 1).
However, the collections went down 2.97 percent month-on-month, getting to a three-month reduced.
The year-to-date (YTD) GST collections currently stand at Rs 16,33,569 crore– a 9.10 percent boost over the very same duration in 2015, according to CNBC-TV18
GST collections: The break down
The Central GST (CGST) collection made up Rs 32,836 crore, State GST (SGST) for Rs 40,499 crore, Integrated GST (IGST) for Rs 47,783 crore, and Cess for Rs 11,471 crore.
Domestic deals added Rs 1.32 lakh crore, up 8.4 percent from the very same duration in 2015, while GST income from imports climbed 4 percent to Rs 44,268 crore.
Refunds completing Rs 22,490 crore were provided throughout the month, noting a 31 percent boost from December 2023. After bookkeeping for reimbursements, the web GST collection boosted by 3.3 percent to Rs 1.54 lakh crore.
The December numbers comply with a greater GST collection of Rs 1.82 lakh crore in November, which taped 8.5 percent yearly development. April 2024 stays the all-time high for GST collections, with over Rs 2.10 lakh crore.
Recent growths around GST
The 55th conference of India’s Goods and Services Tax (GST) Council was hung on December 21, 2024 in Jaisalmer, Rajasthan.
Significant interest was provided to resolving pushing financial problems such as food rising cost of living, joblessness, country work production, and preserving capital investment energy.
LEARN MORE:
55th GST Council conference: 7 vital takeaways from FM Nirmala Sitharaman’s address
Some of the vital suggestions was to elevate the GST price on old and pre-owned electrical cars, and on little fuel and diesel automobiles, from 12 percent to 18 percent.
A proposition to boost GST prices on premium things such as high-end watches and footwear was made. This is anticipated to create an extra Rs 22,000 crore each year in income.
With inputs from firms
