New Delhi, April 1 -- Central and state governments collected Rs.1.77 trillion in Goods and Services Tax (GST) in March after adjusting for refunds, 7.3% more than receipts in the same time a year ago, official data showed.
In FY25, GST collections jumped 8.6% after adjusting for refunds, to Rs.19.56 trillion, data from GSTN, the state-owned company that processes tax returns, showed.
GST refund of Rs.19,615 crore was given in March and in the just-ended financial year, Rs.2.52 trillion was given, data showed.
Net tax revenue from domestic sales grew 9.3% annually to Rs.1.38 trillion in March, while revenue from imports-integrated GST (IGST) proceeds-remained nearly flat at Rs.38,830 crore. Merchandise imports had declined by 16% annua...
Click here to read full article from source
To read the full article or to get the complete feed from this publication, please
Contact Us.