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India’s gross Goods and Services Tax (GST) collections rose 8.7% year-on-year to a record INR 2.43 lakh crore in April, surpassing the previous high recorded a year earlier. Growth was led by a sharp increase in tax revenues from imports, which rose 25.8%, while domestic collections grew at a more moderate pace of 4.3%. After accounting for refunds, net GST collections stood at approximately INR 2.11 lakh crore, reflecting a 7.3% increase. Refunds during the month also recorded a notable rise of 19.3%. The latest data indicates sustained economic activity and strong trade flows, particularly in imports, contributing to higher indirect tax collections at the start of the financial year.
India’s gross Goods and Services Tax (GST) collections rose 8.7% year-on-year to a record INR 2.43 lakh crore in April, marking the highest monthly collection since the rollout of the indirect tax regime. The data was released by the government earlier in the past week. Advertisement
The latest figures surpassed the previous peak of over INR 2.23 lakh crore recorded in April of the previous financial year, indicating continued strength in tax collections at the start of FY27. The increase reflects a combination of steady domestic economic activity and strong import-related tax inflows.
Gross GST revenues from domestic transactions rose 4.3% to over INR 1.85 lakh crore during the month. In contrast, revenues from imports recorded a significantly higher growth of 25.8%, reaching INR 57,580 crore. The sharp rise in import-related collections suggests increased inbound trade volumes as well as higher tax realisations from imported goods and services.
Refunds issued during the month increased by 19.3% to INR 31,793 crore. After adjusting for these refunds, net GST collections stood at approximately INR 2.11 lakh crore, representing a year-on-year growth of 7.3%.
GST collections are a key indicator of economic activity, reflecting consumption trends, business transactions and compliance levels across sectors. The latest record collection points to sustained activity in both domestic and international trade segments.
The relatively moderate growth in domestic GST collections compared to import-related revenues indicates a divergence between internal consumption and external trade contributions. However, overall collections remain elevated, supported by compliance measures and formalisation of the economy.
The rise in refunds also reflects increased processing of claims, particularly from exporters and businesses with input tax credits. While higher refunds reduce net collections, they are indicative of active trade cycles and tax credit utilisation within the system.
The record GST collection for April aligns with broader economic trends, including stable consumption patterns and continued trade activity. It also reflects the impact of administrative measures aimed at improving tax compliance and widening the tax base.
As GST remains a key revenue source for both the central and state governments, sustained growth in collections is significant for fiscal planning and public expenditure. The April figures set a strong starting point for the financial year, with collections maintaining an upward trajectory compared to previous periods.
Source - PTI
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