“These figures show the resilience of the Indian economy and the effectiveness of cooperative federalism,” Finance Minister Nirmala Sitharaman wrote on X.
The strong growth was gained on an unfavorable basic collectible, which hit a high rate of Rs 2.1 crore in April 2024 despite external winds. This also marks a 9.9% year-on-year increase in collections in recent months to Rs 960 crore in February and an increase of 9.1% to Rs 1.84 crore in recent months.
GST ecosystem is deepening its geographical location
GST collections in domestic transactions rose 10.7% to nearly Rs 19 crore, while collections of imported goods rose 20.8% to Rs 40.8% to Rs 469.13 crore, indicating a broad growth based on broad growth. Last month, Refunds jumped 48.3% last month to Rs 27,341 crore, and experts show that online refunds stabilize the steady process. Pratik Jain, a partner at PwC India, said he was “encouraging” GST to delay strong growth despite being hit by geopolitical headwinds. “And, it’s nice to see that most manufacturing countries have witnessed double-digit growth,” he said.
Ms Mani, partner at Deloitte India, said: “In all major production/consumption states, GST collections (April) are high and at lower growth in the previous months, it ranges from 11% to 16%.
He said at least five states, Gujarat, Maharashtra, Karnataka and Tamil Nadu – more than 1 million GST registrations are now recorded, totaling 15 million.
“Congratulations and sincerely to the dedicated efforts of the Finance Ministers of all state and state government authorities (still an equal partner in the Indian GST framework).” FM said.
UP accounts for the most registered people, while GST earns the highest income.
Some northeastern states grew steadily in the collection in April. Arunachal Pradesh recorded a 66% increase, followed by Meghalaya (50%), Nagaland (42%) and Sikkim (17%).
“This shows that India’s GST ecosystem is not only deepening its geographical location,” said Sivakumar Ramjee, executive director of Nangia Andersen LLP.
Some experts hope to continue strong momentum in the coming months, which is a reward from consumer sentiment.
The latest consumer confidence survey by the Reserve Bank of India shows broad improvements in sentiment around current conditions and expectations for the coming year. It is supported by a more active assessment of income and expenditure.
Data showed that the total trailing of central GST in April was Rs 48,634 crore, while the state GST collection reached Rs 59,372 crore.
