December GST Revenue Growth

India's Goods and Services Tax (GST) revenue witnessed a significant 7.3% year-on-year increase in December, amassing a total of Rs 1.77 lakh crore. This marks a notable rise from the Rs 1.65 lakh crore collected in the same period the previous year, as per the latest government data.

Breakdown of GST Collections

Delving into the specifics, the collections were segmented into Central GST (CGST) at Rs 32,836 crore, State GST (SGST) at Rs 40,499 crore, Integrated GST (IGST) at Rs 47,783 crore, and Cess at Rs 11,471 crore.

Domestic vs Import GST Growth

Domestic GST revenues saw an 8.4% increase to Rs 1.32 lakh crore, whereas GST from imports grew by approximately 4% to Rs 44,268 crore in December. However, the collections in December were slightly lower than November’s Rs 1.82 lakh crore, which experienced an 8.5% annual growth.

Refunds and Net Collection

Additionally, December saw Rs 22,490 crore issued in refunds, a 31% increase from the previous year. After accounting for these refunds, the net GST collection stood at Rs 1.54 lakh crore, indicating a 3.3% year-on-year increase.