{"id":6736,"date":"2024-06-01T20:27:38","date_gmt":"2024-06-01T14:57:38","guid":{"rendered":"https:\/\/matribhumisamachar.com\/en\/?p=6736"},"modified":"2024-06-01T20:27:38","modified_gmt":"2024-06-01T14:57:38","slug":"may-2024-gst-revenue-hits-%e2%82%b91-73-lakh-crore-10-year-on-year-surge","status":"publish","type":"post","link":"https:\/\/matribhumisamachar.com\/en\/2024\/06\/01\/may-2024-gst-revenue-hits-%e2%82%b91-73-lakh-crore-10-year-on-year-surge\/","title":{"rendered":"May 2024: GST Revenue Hits \u20b91.73 Lakh Crore, 10% Year-on-Year Surge"},"content":{"rendered":"<p style=\"text-align: justify;\">The gross Goods and Services Tax (GST) revenue for the month of May 2024 stood at \u20b91.73 lakh crore. This represents a 10% year-on-year growth, driven by a strong increase in domestic transactions (up 15.3%) and slowing of imports (down 4.3%). After accounting for refunds, the net GST revenue for May 2024 stands at \u20b91.44 lakh crore, reflecting a growth of 6.9% compared to the same period last year.<\/p>\n<p style=\"text-align: justify;\">Breakdown of May 2024 Collections:<\/p>\n<ul style=\"text-align: justify;\">\n<li>Central Goods and Services Tax (CGST): \u20b932,409 crore;<\/li>\n<li value=\"5\">State Goods and Services Tax (SGST): \u20b940,265 crore;<\/li>\n<li value=\"5\">Integrated Goods and Services Tax (IGST): \u20b987,781 crore, including \u20b939,879 crore collected on imported goods;<\/li>\n<li value=\"5\">Cess: \u20b912,284 crore, including \u20b91,076 crore collected on imported goods.<\/li>\n<\/ul>\n<p style=\"text-align: justify;\">The gross GST collections in the FY 2024-25 till May 2024 stood at \u20b93.83 lakh crore. This represents an impressive 11.3% year-on-year growth, driven by a strong increase in domestic transactions (up 14.2%) and marginal increase in imports (up 1.4%). After accounting for refunds, the net GST revenue in the FY 2024-25 till May 2024 stands at \u20b93.36 lakh crore, reflecting a growth of 11.6% compared to the same period last year.<\/p>\n<p style=\"text-align: justify;\">Breakdown of collections in the FY 2024-25 till May, 2024, are as below:<\/p>\n<ul style=\"text-align: justify;\">\n<li>Central Goods and Services Tax (CGST): \u20b976,255 crore;<\/li>\n<li value=\"5\">State Goods and Services Tax (SGST): \u20b993,804 crore;<\/li>\n<li value=\"5\">Integrated Goods and Services Tax (IGST): \u20b91,87,404 crore, including \u20b977,706 crore collected on imported goods;<\/li>\n<li value=\"5\">Cess: \u20b925,544 crore, including \u20b92,084 crore collected on imported goods.<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><strong>Inter-Governmental Settlement:<\/strong><\/p>\n<p style=\"text-align: justify;\">In the month of May, 2024, the Central Government settled \u20b938,519 crore to CGST and \u20b932,733 crore to SGST from the net IGST collected of \u20b967,204 crore. This translates to a total revenue of \u20b970,928 crore for CGST and \u20b972,999 crore for SGST in May, 2024, after regular settlement.<\/p>\n<p style=\"text-align: justify;\">Similarly, in the FY 2024-25 till May 2024 the Central Government settled \u20b988,827 crore to CGST and \u20b974,333 crore to SGST from the net IGST collected of \u20b9154,671 crore. This translates to a total revenue of \u20b91,65,081 crore for CGST and \u20b91,68,137 crore for SGST in FY 2024-25 till May 2024 after regular settlement.<\/p>\n<p style=\"text-align: justify;\">The chart below shows trends in monthly gross GST revenues during the current year.\u00a0<strong>Table-1<\/strong>\u00a0shows the state-wise figures of GST collected in each State during the month of May, 2024 as compared to May, 2023.\u00a0<strong>Table-2<\/strong>\u00a0shows the state-wise figures of post settlement GST revenue of each State for the month of May, 2024.<\/p>\n<p style=\"text-align: justify;\"><strong>Chart: Trends in GST Collection<\/strong><\/p>\n<p style=\"text-align: justify;\"><img decoding=\"async\" src=\"https:\/\/static.pib.gov.in\/WriteReadData\/userfiles\/image\/image001797B.png\" \/><\/p>\n<p style=\"text-align: justify;\"><strong>Table 1: State-wise growth of GST Revenues during May, 2024<a title=\"\" href=\"https:\/\/pib.gov.in\/PressReleaseIframePage.aspx?PRID=2022459#_ftn1\"><sup>[1]<\/sup><\/a><\/strong><\/p>\n<div style=\"text-align: justify;\">\n<table class=\"ListTable4-Accent11\" border=\"1\" cellspacing=\"0\" cellpadding=\"5\" align=\"center\">\n<tbody>\n<tr>\n<td><strong>State\/UT<\/strong><\/td>\n<td><strong>May-23<\/strong><\/td>\n<td><strong>May-24<\/strong><\/td>\n<td><strong>Growth (%)<\/strong><\/td>\n<\/tr>\n<tr>\n<td>Jammu and Kashmir<\/td>\n<td>422<\/td>\n<td>\u00a0\u00a0 525<\/td>\n<td>24%<\/td>\n<\/tr>\n<tr>\n<td>Himachal Pradesh<\/td>\n<td>828<\/td>\n<td>\u00a0 838<\/td>\n<td>1%<\/td>\n<\/tr>\n<tr>\n<td>Punjab<\/td>\n<td>1,744<\/td>\n<td>\u00a0 2,190<\/td>\n<td>26%<\/td>\n<\/tr>\n<tr>\n<td>Chandigarh<\/td>\n<td>259<\/td>\n<td>\u00a0\u00a0 237<\/td>\n<td>-9%<\/td>\n<\/tr>\n<tr>\n<td>Uttarakhand<\/td>\n<td>1,431<\/td>\n<td>\u00a0 1,837<\/td>\n<td>28%<\/td>\n<\/tr>\n<tr>\n<td>Haryana<\/td>\n<td>7,250<\/td>\n<td>\u00a09,289<\/td>\n<td>28%<\/td>\n<\/tr>\n<tr>\n<td>Delhi<\/td>\n<td>5,147<\/td>\n<td>7,512<\/td>\n<td>46%<\/td>\n<\/tr>\n<tr>\n<td>Rajasthan<\/td>\n<td>3,924<\/td>\n<td>\u00a0 4,414<\/td>\n<td>13%<\/td>\n<\/tr>\n<tr>\n<td>Uttar Pradesh<\/td>\n<td>7,468<\/td>\n<td>\u00a0 9,091<\/td>\n<td>22%<\/td>\n<\/tr>\n<tr>\n<td>Bihar<\/td>\n<td>1,366<\/td>\n<td>1,521<\/td>\n<td>11%<\/td>\n<\/tr>\n<tr>\n<td>Sikkim<\/td>\n<td>334<\/td>\n<td>\u00a0\u00a0 312<\/td>\n<td>-7%<\/td>\n<\/tr>\n<tr>\n<td>Arunachal Pradesh<\/td>\n<td>120<\/td>\n<td>\u00a0\u00a0\u00a0\u00a0 98<\/td>\n<td>-18%<\/td>\n<\/tr>\n<tr>\n<td>Nagaland<\/td>\n<td>\u00a0\u00a0 52<\/td>\n<td>\u00a0\u00a0\u00a0\u00a0 45<\/td>\n<td>-14%<\/td>\n<\/tr>\n<tr>\n<td>Manipur<\/td>\n<td>\u00a0\u00a0 39<\/td>\n<td>\u00a0\u00a0\u00a0\u00a0 58<\/td>\n<td>48%<\/td>\n<\/tr>\n<tr>\n<td>Mizoram<\/td>\n<td>\u00a0\u00a0 38<\/td>\n<td>\u00a0\u00a0\u00a0\u00a0 39<\/td>\n<td>3%<\/td>\n<\/tr>\n<tr>\n<td>Tripura<\/td>\n<td>\u00a0\u00a0 75<\/td>\n<td>\u00a0\u00a0\u00a0\u00a0 73<\/td>\n<td>-3%<\/td>\n<\/tr>\n<tr>\n<td>Meghalaya<\/td>\n<td>\u00a0214<\/td>\n<td>\u00a0\u00a0 172<\/td>\n<td>-20%<\/td>\n<\/tr>\n<tr>\n<td>Assam<\/td>\n<td>\u00a01,217<\/td>\n<td>\u00a0 1,228<\/td>\n<td>1%<\/td>\n<\/tr>\n<tr>\n<td>West Bengal<\/td>\n<td>5,162<\/td>\n<td>\u00a0 5,377<\/td>\n<td>4%<\/td>\n<\/tr>\n<tr>\n<td>Jharkhand<\/td>\n<td>2,584<\/td>\n<td>\u00a02,700<\/td>\n<td>4%<\/td>\n<\/tr>\n<tr>\n<td>Odisha<\/td>\n<td>4,398<\/td>\n<td>\u00a0 5,027<\/td>\n<td>14%<\/td>\n<\/tr>\n<tr>\n<td>Chhattisgarh<\/td>\n<td>2,525<\/td>\n<td>\u00a0 2,853<\/td>\n<td>13%<\/td>\n<\/tr>\n<tr>\n<td>Madhya Pradesh<\/td>\n<td>3,381<\/td>\n<td>\u00a03,402<\/td>\n<td>1%<\/td>\n<\/tr>\n<tr>\n<td>Gujarat<\/td>\n<td>\u00a09,800<\/td>\n<td>11,325<\/td>\n<td>16%<\/td>\n<\/tr>\n<tr>\n<td>Dadra and Nagar Haveli and Daman &amp; Diu<\/td>\n<td>324<\/td>\n<td>\u00a0\u00a0 375<\/td>\n<td>16%<\/td>\n<\/tr>\n<tr>\n<td>Maharashtra<\/td>\n<td>23,536<\/td>\n<td>26,854<\/td>\n<td>14%<\/td>\n<\/tr>\n<tr>\n<td>Karnataka<\/td>\n<td>\u00a010,317<\/td>\n<td>11,889<\/td>\n<td>15%<\/td>\n<\/tr>\n<tr>\n<td>Goa<\/td>\n<td>523<\/td>\n<td>\u00a0\u00a0 519<\/td>\n<td>-1%<\/td>\n<\/tr>\n<tr>\n<td>Lakshadweep<\/td>\n<td>\u00a0\u00a0\u00a0\u00a0 2<\/td>\n<td>1<\/td>\n<td>-39%<\/td>\n<\/tr>\n<tr>\n<td>Kerala<\/td>\n<td>2,297<\/td>\n<td>\u00a0 2,594<\/td>\n<td>13%<\/td>\n<\/tr>\n<tr>\n<td>Tamil Nadu<\/td>\n<td>8,953<\/td>\n<td>\u00a0 9,768<\/td>\n<td>9%<\/td>\n<\/tr>\n<tr>\n<td>Puducherry<\/td>\n<td>202<\/td>\n<td>\u00a0 239<\/td>\n<td>18%<\/td>\n<\/tr>\n<tr>\n<td>Andaman and Nicobar Islands<\/td>\n<td>\u00a0\u00a0 31<\/td>\n<td>\u00a0\u00a0\u00a0\u00a0 37<\/td>\n<td>18%<\/td>\n<\/tr>\n<tr>\n<td>Telangana<\/td>\n<td>4,507<\/td>\n<td>\u00a04,986<\/td>\n<td>11%<\/td>\n<\/tr>\n<tr>\n<td>Andhra Pradesh<\/td>\n<td>3,373<\/td>\n<td>\u00a03,890<\/td>\n<td>15%<\/td>\n<\/tr>\n<tr>\n<td>Ladakh<\/td>\n<td>\u00a0\u00a0 26<\/td>\n<td>\u00a0\u00a0\u00a0\u00a0\u00a0 15<\/td>\n<td>-41%<\/td>\n<\/tr>\n<tr>\n<td>Other Territory<\/td>\n<td>201<\/td>\n<td>\u00a0 207<\/td>\n<td>3%<\/td>\n<\/tr>\n<tr>\n<td>Center Jurisdiction<\/td>\n<td>\u00a0187<\/td>\n<td>\u00a0\u00a0 245<\/td>\n<td>30%<\/td>\n<\/tr>\n<tr>\n<td><strong>Grand Total<\/strong><\/td>\n<td>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1,14,261<\/td>\n<td>1,31,783<\/td>\n<td>15%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p style=\"text-align: justify;\">\n<p style=\"text-align: justify;\"><strong>Table-2: SGST &amp; SGST portion of IGST settled to States\/UTs in<\/strong><\/p>\n<p style=\"text-align: justify;\"><strong>May (Rs. in crore)<\/strong><\/p>\n<table class=\"GridTable4Accent6\" border=\"1\" cellspacing=\"0\" cellpadding=\"5\" align=\"center\">\n<tbody>\n<tr>\n<td>&nbsp;<\/td>\n<td colspan=\"3\"><strong>Pre-Settlement SGST<\/strong><\/td>\n<td colspan=\"3\"><strong>Post-Settlement SGST<a title=\"\" href=\"https:\/\/pib.gov.in\/PressReleaseIframePage.aspx?PRID=2022459#_ftn2\">[2]<\/a><\/strong><\/td>\n<\/tr>\n<tr>\n<td><strong>State\/UT<\/strong><\/td>\n<td><strong>May-23<\/strong><\/td>\n<td><strong>May-24<\/strong><\/td>\n<td><strong>Growth<\/strong><\/td>\n<td><strong>May-23<\/strong><\/td>\n<td><strong>May-24<\/strong><\/td>\n<td><strong>Growth<\/strong><\/td>\n<\/tr>\n<tr>\n<td>Jammu and Kashmir<\/td>\n<td>\u00a0 178<\/td>\n<td>\u00a0225<\/td>\n<td>26%<\/td>\n<td>\u00a0 561<\/td>\n<td>\u00a0659<\/td>\n<td>17%<\/td>\n<\/tr>\n<tr>\n<td>Himachal Pradesh<\/td>\n<td>\u00a0189<\/td>\n<td>\u00a0 187<\/td>\n<td>-1%<\/td>\n<td>\u00a0435<\/td>\n<td>\u00a0436<\/td>\n<td>0%<\/td>\n<\/tr>\n<tr>\n<td>Punjab<\/td>\n<td>\u00a0638<\/td>\n<td>\u00a0724<\/td>\n<td>14%<\/td>\n<td>1,604<\/td>\n<td>1,740<\/td>\n<td>8%<\/td>\n<\/tr>\n<tr>\n<td>Chandigarh<\/td>\n<td>48<\/td>\n<td>\u00a054<\/td>\n<td>12%<\/td>\n<td>\u00a0168<\/td>\n<td>\u00a0 178<\/td>\n<td>6%<\/td>\n<\/tr>\n<tr>\n<td>Uttarakhand<\/td>\n<td>\u00a0 411<\/td>\n<td>\u00a0476<\/td>\n<td>16%<\/td>\n<td>\u00a0666<\/td>\n<td>\u00a0 714<\/td>\n<td>7%<\/td>\n<\/tr>\n<tr>\n<td>Haryana<\/td>\n<td>\u00a01,544<\/td>\n<td>1,950<\/td>\n<td>26%<\/td>\n<td>2,568<\/td>\n<td>3,025<\/td>\n<td>18%<\/td>\n<\/tr>\n<tr>\n<td>Delhi<\/td>\n<td>\u00a01,295<\/td>\n<td>\u00a01,477<\/td>\n<td>14%<\/td>\n<td>2,539<\/td>\n<td>2,630<\/td>\n<td>4%<\/td>\n<\/tr>\n<tr>\n<td>Rajasthan<\/td>\n<td>1,386<\/td>\n<td>1,506<\/td>\n<td>9%<\/td>\n<td>3,020<\/td>\n<td>\u00a03,315<\/td>\n<td>10%<\/td>\n<\/tr>\n<tr>\n<td>Uttar Pradesh<\/td>\n<td>2,384<\/td>\n<td>2,736<\/td>\n<td>15%<\/td>\n<td>5,687<\/td>\n<td>6,848<\/td>\n<td>20%<\/td>\n<\/tr>\n<tr>\n<td>Bihar<\/td>\n<td>\u00a0623<\/td>\n<td>\u00a0695<\/td>\n<td>11%<\/td>\n<td>2,058<\/td>\n<td>2,298<\/td>\n<td>12%<\/td>\n<\/tr>\n<tr>\n<td>Sikkim<\/td>\n<td>\u00a031<\/td>\n<td>26<\/td>\n<td>-15%<\/td>\n<td>84<\/td>\n<td>66<\/td>\n<td>-21%<\/td>\n<\/tr>\n<tr>\n<td>Arunachal Pradesh<\/td>\n<td>60<\/td>\n<td>\u00a045<\/td>\n<td>-26%<\/td>\n<td>\u00a0 187<\/td>\n<td>\u00a0 152<\/td>\n<td>-19%<\/td>\n<\/tr>\n<tr>\n<td>Nagaland<\/td>\n<td>\u00a021<\/td>\n<td>\u00a019<\/td>\n<td>-9%<\/td>\n<td>83<\/td>\n<td>\u00a079<\/td>\n<td>-4%<\/td>\n<\/tr>\n<tr>\n<td>Manipur<\/td>\n<td>23<\/td>\n<td>32<\/td>\n<td>35%<\/td>\n<td>\u00a077<\/td>\n<td>\u00a0107<\/td>\n<td>39%<\/td>\n<\/tr>\n<tr>\n<td>Mizoram<\/td>\n<td>\u00a021<\/td>\n<td>22<\/td>\n<td>3%<\/td>\n<td>\u00a079<\/td>\n<td>\u00a077<\/td>\n<td>-3%<\/td>\n<\/tr>\n<tr>\n<td>Tripura<\/td>\n<td>40<\/td>\n<td>36<\/td>\n<td>-9%<\/td>\n<td>\u00a0 135<\/td>\n<td>\u00a0138<\/td>\n<td>2%<\/td>\n<\/tr>\n<tr>\n<td>Meghalaya<\/td>\n<td>\u00a056<\/td>\n<td>\u00a052<\/td>\n<td>-7%<\/td>\n<td>\u00a0 158<\/td>\n<td>\u00a0 154<\/td>\n<td>-3%<\/td>\n<\/tr>\n<tr>\n<td>Assam<\/td>\n<td>\u00a0488<\/td>\n<td>\u00a0 511<\/td>\n<td>5%<\/td>\n<td>\u00a01,170<\/td>\n<td>1,280<\/td>\n<td>9%<\/td>\n<\/tr>\n<tr>\n<td>West Bengal<\/td>\n<td>\u00a01,952<\/td>\n<td>2,030<\/td>\n<td>4%<\/td>\n<td>3,407<\/td>\n<td>3,628<\/td>\n<td>6%<\/td>\n<\/tr>\n<tr>\n<td>Jharkhand<\/td>\n<td>\u00a0653<\/td>\n<td>\u00a0735<\/td>\n<td>13%<\/td>\n<td>\u00a0976<\/td>\n<td>\u00a01,135<\/td>\n<td>16%<\/td>\n<\/tr>\n<tr>\n<td>Odisha<\/td>\n<td>\u00a01,255<\/td>\n<td>\u00a01,415<\/td>\n<td>13%<\/td>\n<td>\u00a01,676<\/td>\n<td>2,068<\/td>\n<td>23%<\/td>\n<\/tr>\n<tr>\n<td>Chhattisgarh<\/td>\n<td>\u00a0583<\/td>\n<td>\u00a0661<\/td>\n<td>14%<\/td>\n<td>\u00a0833<\/td>\n<td>1,033<\/td>\n<td>24%<\/td>\n<\/tr>\n<tr>\n<td>Madhya Pradesh<\/td>\n<td>\u00a0987<\/td>\n<td>1,028<\/td>\n<td>4%<\/td>\n<td>2,580<\/td>\n<td>\u00a02,555<\/td>\n<td>-1%<\/td>\n<\/tr>\n<tr>\n<td>Gujarat<\/td>\n<td>\u00a03,371<\/td>\n<td>3,526<\/td>\n<td>5%<\/td>\n<td>\u00a05,156<\/td>\n<td>5,233<\/td>\n<td>2%<\/td>\n<\/tr>\n<tr>\n<td>Dadra and Nagar Haveli and Daman and Diu<\/td>\n<td>\u00a047<\/td>\n<td>\u00a058<\/td>\n<td>23%<\/td>\n<td>92<\/td>\n<td>80<\/td>\n<td>-13%<\/td>\n<\/tr>\n<tr>\n<td>Maharashtra<\/td>\n<td>\u00a07,621<\/td>\n<td>\u00a08,711<\/td>\n<td>14%<\/td>\n<td>10,952<\/td>\n<td>12,397<\/td>\n<td>13%<\/td>\n<\/tr>\n<tr>\n<td>Karnataka<\/td>\n<td>3,022<\/td>\n<td>3,441<\/td>\n<td>14%<\/td>\n<td>5,704<\/td>\n<td>6,062<\/td>\n<td>6%<\/td>\n<\/tr>\n<tr>\n<td>Goa<\/td>\n<td>\u00a0182<\/td>\n<td>\u00a0190<\/td>\n<td>4%<\/td>\n<td>\u00a0324<\/td>\n<td>\u00a0321<\/td>\n<td>-1%<\/td>\n<\/tr>\n<tr>\n<td>Lakshadweep<\/td>\n<td>\u00a0\u00a0 0<\/td>\n<td>\u00a0\u00a0\u00a0 1<\/td>\n<td>478%<\/td>\n<td>\u00a0\u00a0 7<\/td>\n<td>\u00a0\u00a0 5<\/td>\n<td>-35%<\/td>\n<\/tr>\n<tr>\n<td>Kerala<\/td>\n<td>1,040<\/td>\n<td>1,209<\/td>\n<td>16%<\/td>\n<td>2,387<\/td>\n<td>2,497<\/td>\n<td>5%<\/td>\n<\/tr>\n<tr>\n<td>Tamil Nadu<\/td>\n<td>\u00a03,101<\/td>\n<td>3,530<\/td>\n<td>14%<\/td>\n<td>4,829<\/td>\n<td>6,014<\/td>\n<td>25%<\/td>\n<\/tr>\n<tr>\n<td>Puducherry<\/td>\n<td>36<\/td>\n<td>\u00a041<\/td>\n<td>13%<\/td>\n<td>99<\/td>\n<td>\u00a0106<\/td>\n<td>7%<\/td>\n<\/tr>\n<tr>\n<td>Andaman and Nicobar Islands<\/td>\n<td>\u00a015<\/td>\n<td>\u00a018<\/td>\n<td>17%<\/td>\n<td>\u00a041<\/td>\n<td>44<\/td>\n<td>5%<\/td>\n<\/tr>\n<tr>\n<td>Telangana<\/td>\n<td>1,448<\/td>\n<td>1,636<\/td>\n<td>13%<\/td>\n<td>3,024<\/td>\n<td>3,239<\/td>\n<td>7%<\/td>\n<\/tr>\n<tr>\n<td>Andhra Pradesh<\/td>\n<td>1,048<\/td>\n<td>1,240<\/td>\n<td>18%<\/td>\n<td>\u00a02,116<\/td>\n<td>2,597<\/td>\n<td>23%<\/td>\n<\/tr>\n<tr>\n<td>Ladakh<\/td>\n<td>\u00a014<\/td>\n<td>\u00a0\u00a0 8<\/td>\n<td>-43%<\/td>\n<td>34<\/td>\n<td>24<\/td>\n<td>-27%<\/td>\n<\/tr>\n<tr>\n<td>Other Territory<\/td>\n<td>\u00a016<\/td>\n<td>\u00a017<\/td>\n<td>8%<\/td>\n<td>83<\/td>\n<td>66<\/td>\n<td>-20%<\/td>\n<\/tr>\n<tr>\n<td><strong>Grand Total<\/strong><\/td>\n<td>35,828<\/td>\n<td>40,265<\/td>\n<td>12%<\/td>\n<td>65,597<\/td>\n<td>72,999<\/td>\n<td>11%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>The gross Goods and Services Tax (GST) revenue for the month of May 2024 stood at \u20b91.73 lakh crore. This represents a 10% year-on-year growth, driven by a strong increase in domestic transactions (up 15.3%) and slowing of imports (down 4.3%). After accounting for refunds, the net GST revenue for May 2024 stands at \u20b91.44 &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[3538,3537,3534,3535,3536],"class_list":["post-6736","post","type-post","status-publish","format-standard","","category-business-english-news","tag-fiscal-updates","tag-government-revenue","tag-gst-revenue-collection","tag-indian-economy","tag-tax-revenue"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>May 2024: GST Revenue Hits \u20b91.73 Lakh Crore, 10% Year-on-Year Surge - Matribhumi Samachar English<\/title>\n<meta name=\"description\" content=\"In May 2024, India&#039;s Gross GST revenue collection soared to \u20b91.73 lakh crore, marking a notable 10% year-on-year growth. 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