GST revenue hits Rs 1.87 Lakh Crore in April - PM Modi calls it big news for the Indian economy

New Delhi – The monthly revenue from Goods and Services Tax-GST has reached an all-time high. In the first month of the new financial year, GST collection of Rs 1.87 lakh crore has been collected. This collection is 12 percent higher than in March. Increased GST revenue is considered to be good news for the Indian economy. Prime Minister Narendra Modi has also commented that this is big news for the Indian economy.

Moreover, GST revenue surged to Rs 1.87 lakh crore in April. GST revenue collection in a month has crossed Rs 1.75 lakh crore for the first time. Last month, the government had received Rs 1.68 lakh crore of GST. GST collections per month have remained above Rs 1.4 lakh crore for the past few months. The collection has been more than Rs 1.5 lakh crore for the last three months.

Furthermore, there has been a huge increase in IGST. Besides, of the total GST of ₹1.87 lakh crore, ₹89,158 crore has been received from IGST. In this IGST, the tax levied on imported goods is ₹34,972 crore. Also, CGST is ₹38,440 crore, and SGST received by the states is SGST is ₹47,412 crore. Also, the government has received ₹12,025 crore as cess.

Meanwhile, the increased GST is considered a good sign for the Indian economy. Analysts say that the demand has increased tremendously, showing that the economy has recovered and picked up speed. Experts are also pointing out that the ease brought in the process of GST revenue collection is also important for the increase in GST revenue. Prime Minister Modi has pointed out that the revenue collection is high while the taxes are low and has said that this is proof of the success of the GST tax system.

हिंदी मराठी