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Date: 05/07/2024

GST collections up by 8 pc in June

Gross Goods and Services Tax (GST) collections came in at Rs 1.74 trillion in June (May transactions), up 8% on the year. This was against Rs 1.73 trillion collected in the previous month. The year-on-year growth rate during June was the slowest in around three years. In May, the growth rate was 10%, the slowest in 34 months. The slowdown in GST revenue growth could be attributed to slower economic activity during the election period, and a plateauing of the collections after reporting a robust trend for a long period. During June, the government settled Rs 39,586 crore to the Central GST from Integrated GST collections, and Rs 33,548 crore to State GST, as per a report.
 
Source: Exim News Service: New Delhi, July 4 



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