GST collection increased by 8% in June to Rs. 1.74 lakh crore has happened

New Delhi:

GST collection in June increased by eight percent to Rs. 1.74 lakh crore has happened. Sources gave this information on Monday, they said, though the government has stopped providing monthly GST collection data.

Sources said that in the current financial year (April-June) so far the gross goods and services tax collection is Rs. 5.57 lakh crore has been.

In June, the collection in May 2024 was Rs. 1.73 lakh crore is over. This is eight percent more than the June 2023 collection of Rs 1.61 lakh crore.

Integrated Goods and Services Tax (IGST) Under the head of Central Goods and Services Tax (CGST) Rs. 39,586 crore and under the head of State Goods and Services Tax (SGST) Rs. 33,548 crore was settled.

GST collection in April was Rs. 2.10 lakh crore is at a record level

GST collection in April this year was Rs. 2.10 lakh crore reached a record high. Sources said the government will not issue any further statement on tax collection.

Let us tell you that 7 years of Goods and Services Tax have been completed. It was implemented by the Modi 1.0 government on 1 July 2017. GST included 17 local taxes and duties.

Strong GST collections boosted the economy

Saurabh Aggarwal, ‘tax partner’ at EY India, said this strong performance reflects the boom in the economy. Along with the tax department, the business world also has a contribution in this. He said a significant increase in collections is expected following the GST reforms. Upcoming reforms could potentially address working capital constraints.

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