India’s GST Collections for September Reach Rs 1.73 Lakh Cr
MUMBAI: India’s goods and services tax or GST collections for September rose by 6.5 per cent to over Rs 1.73 lakh crore year-on-year, which is lower than August’s Rs 1.75 lakh crore, while the country had recorded Rs 1.62 lakh crore in GST revenue in September 2023, the government data showed on Tuesday.
This is the second month of single-digit rise in collections and lowest pace of growth in 39 months. In June, the gross GST collections had expanded 7.7 percent. In August, the collections saw a 10 percent increase from last year with collections of over Rs 1.74 lakh crore, whereas July’s collections were Rs 1.82 lakh crore. In 2024, total collections increased by 10.1 per cent from the same period in 2023.
The government, however, said that after refunds, the government’s net GST mop-up in September, rose about 4 per cent year-on-year to Rs 1.53 lakh crore. In the first six months of the year, the GST collections at Rs 10.87 lakh crore were 9.5 percent higher compared with the first half of FY24.
The pace of average GST collections has declined to Rs 1.77 lakh crore monthly in the second quarter compared with Rs 1.86 lakh crore in the first quarter of FY25. But the September month has marked the seventh consecutive month of over Rs 1.7 lakh crore monthly collections.