Thursday, July 17, 2025

Creating liberating content

Attendees walk through an exposition hall at AWS re:Invent, a

Related News

A coalition of leading US solar panel manufacturers has filed a formal petition urging the US commerce department to impose tariffs on solar imports from India, Indonesia, and Laos.The group

The Avendus Wealth–Hurun India U30 List 2025 has recognised 79 of India’s most promising entrepreneurs under the age of 30, showcasing the next generation of business leaders across key sectors

Tata Motors-owned Jaguar Land Rover (JLR) has confirmed it will cut around 500 managerial jobs in the UK as part of a “limited” voluntary redundancy programme, aligning with its ongoing

Attendees walk through an exposition hall at AWS re:Invent, a conference hosted by Amazon Web Services, in Las Vegas on Dec. 3, 2024. Noah Berger | Getty Images Amazon is

Elon Musk listens as US President-elect Donald Trump speaks during a House Republicans Conference meeting at the Hyatt Regency on Capitol Hill on November 13, 2024 in Washington, DC. Allison

Facebook accused of manipulating user data Mark Zuckerberg to face deposition over Cambridge Analytica 04:45 Meta CEO Mark Zuckerberg and other board members of the social media giant settled a

Trending News

A coalition of leading US solar panel manufacturers has filed a formal petition urging the US commerce department to impose tariffs on solar imports from India, Indonesia, and Laos.The group

The Avendus Wealth–Hurun India U30 List 2025 has recognised 79 of India’s most promising entrepreneurs under the age of 30, showcasing the next generation of business leaders across key sectors

Tata Motors-owned Jaguar Land Rover (JLR) has confirmed it will cut around 500 managerial jobs in the UK as part of a “limited” voluntary redundancy programme, aligning with its ongoing

The government has approved an approximately Rs 20,000 crore AWACS project, a major step toward boosting the Indian Air Force’s airborne surveillance and early warning capabilities. Under this programme, India

Top executives at India’s private banks saw only modest increases in their FY25 pay packages, as the Reserve Bank of India maintained strict oversight on CEO compensation, with salaries, bonuses,

Over the upcoming 2 decades, Andhra Pradesh might evolve into a $2 trillion state economy! A state taskforce led by CM N Chandrababu Naidu has laid out a roadmap to

GST collections in April hit record high of Rs 2.37 lakh crore – details here

Word Count: 624 | Estimated Reading Time: 4 minutes


GST collections in April hit record high of Rs 2.37 lakh crore - details here
The government’s Budget forecasts anticipate an 11% rise in GST revenue. (AI image)

GST collections hit record high! The Goods and Services Tax (GST) revenue reached a record-breaking Rs 2.37 lakh crore in April, showing a 12.6 per cent year-on-year increase, according to official government statistics released on Thursday.This surpassed the previous second-highest collection of Rs 2.10 lakh crore recorded in April 2024, since the implementation of the indirect tax system on July 1, 2017. The collection in March 2025 stood at Rs 1.96 lakh crore.
The GST earnings from domestic transactions increased by 10.7 per cent, amounting to approximately Rs 1.9 lakh crore, whilst revenue from imported goods witnessed a 20.8 per cent growth, reaching Rs 46,913 crore.
The government issued refunds worth Rs 27,341 crore in April, marking a 48.3 per cent increase.
The net GST collection, after accounting for refunds, demonstrated a 9.1 per cent growth, totalling more than Rs 2.09 lakh crore in April.
Commenting on the record collections, Abhishek Jain, Indirect Tax Head & Partner, KPMG said, “The all-time high GST collections are a strong indicator of robust economic activity. While this reflects ongoing recovery and growth, a significant contributor is also the year-end reconciliation process, which typically results in additional tax payments by businesses to align their returns during the year”
GST revenue witnessed a 9.1% growth, reaching Rs 183,646 crore in February, primarily driven by substantial increases in domestic revenue collection. The January collections amounted to Rs 1.96 lakh crore, showing a significant year-on-year improvement of 12.3%.
The collections in December totalled Rs 1.77 lakh crore, indicating a 7.3% rise compared to the previous year. This growth rate was lower than November’s 8.5% increase, with the decline attributed to reduced post-festive season spending.
The government’s Budget forecasts anticipate an 11% rise in GST revenue, with projected collections of Rs 11.78 lakh crore, encompassing both Central GST and compensation cess components.
(This story is being updated)





Source link

Most Popular Articles