In June 2024, India’s Goods and Services Tax (GST) collections reached ₹1.74 lakh crore, marking a 7.7% increase compared to the same period last year. While this growth reflects a positive trend, it represents the slowest rate of increase in three years. The GST revenue in June comprised ₹30,380 crore from Central GST (CGST), ₹38,740 crore from State GST (SGST), ₹87,026 crore from Integrated GST (IGST), and ₹18,116 crore from cess.
Source:- BBC news
The slowdown in growth can be attributed to several factors, including a moderation in economic activity and the base effect of higher collections in the previous years. Despite the slower growth, the consistent increase in GST revenue underscores the resilience of the Indian economy and its recovery trajectory post-pandemic.
Source:- India today
Finance experts suggest that while the growth rate has decelerated, the overall collection remains robust, reflecting steady consumption and compliance improvements. The government continues to focus on strengthening the tax infrastructure and compliance mechanisms to sustain and
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