Summary:

India’s GST receipts in December 2024 were Rs. 1.77 trillion (US$ 20.7 billion), a 7.3% increase over December 2023 and the tenth consecutive month exceeding Rs. 1.7 trillion. Central GST contributed Rs. 32,836 crore, State GST Rs. 40,499 crore, and Integrated GST Rs. 47,783 crore, with cess revenues totaling Rs. 11,471 crore. Domestic transactions expanded by 8.4%, while imports increased by 4%. Refunds totaled Rs. 22,490 crore, a 31% year-on-year increase.

In November 2024, India's GST revenues were Rs. 1.82 trillion (US$ 21.29 billion), driven by a 9.4% increase in domestic transactions (Rs. 1.40 trillion / US$ 16.38 billion) and a 6% increase in import GST (Rs. 42,591 crore / US$ 4.98 billion). Central GST was Rs. 34,141 crore (US$ 3.99 billion), State GST was Rs. 43,047 crore (US$ 5.04 billion), and Integrated GST was Rs. 91,828 crore (US$ 10.74 billion). Refunds dropped by 8.9%.

Source: IBEF

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