Major Landmark : Goods And Services Tax Collections Jump 10.4 % ; Rs 1.72 lakh Crore in January

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Goods and Services Tax collections jumped 10.4 percent to over Rs 1.72 lakh crore in January, the finance ministry said .

As per report by PTI, This is the second-highest monthly collection ever and marks the third month in this financial year with a collection of Rs 1.70 lakh crore or more.

“The gross GST revenue collected in the month of January 2024 (till 05:00 PM of 31.01.2024) is Rs 1,72,129 crore, which shows a 10.4 per cent y-o-y growth over the revenue of Rs 1,55,922 crore collected in January 2023 (till 05:00 PM on 31.01.2023),” the ministry said.

During the April 2023-January 2024 period, cumulative gross GST collection witnessed 11.6 per cent year-on-year growth (till 05:00 pm of 31.01.2024), reaching Rs 16.69 lakh crore against Rs 14.96 lakh crore collected in the same period of the previous year(April 2022-January 2023).

The highest-ever monthly GST collection was recorded in April 2023 at Rs 1.87 lakh crore.