NEW DELHI: The Goods and Services tax (GST) collections rose 12.4 per cent to touch a record high of Rs 2.10 lakh crore in April (for year-end sales in March), data released by the Union Finance Ministry on Wednesday showed. The increase was driven mainly by 13.4 per cent year-on-year higher domestic transactions, along with higher compliance in the backdrop of anti-evasion measures and audits taken by authorities.

This is the highest level of GST collections recorded since the indirect tax reform kicked in almost seven years ago in July 2017, and the first time that the overall mop-up crossed the Rs 2 lakh crore mark. The previous highest level was registered in April 2023 at Rs 1.87 lakh crore, reflecting year-end sales of March 2023.

Union Finance Minister Nirmala Sitharaman said the GST collection crossed the Rs 2 lakh crore benchmark due to the 'strong momentum in the economy and efficient tax collections' and added that there are no pending dues to states on account of the settlement of Integrated GST — the tax levied on all inter-state supplies of goods and services. The Minister posted on social media platform X saying, "An #IGST amount of `50,307 crore to Centre and `41,600 crore to States has been cleared. This #IGST settlement of `91,907 crore is `4,413 crore more than the actual net IGST collections of `87,494 crore and stands settled by the Central Government. There are NO DUES pending on account of IGST settlement to the States."

The Finance Ministry said in a statement that after accounting for refunds, the net GST revenue in April came in at Rs 1.92 lakh crore, an increase of 15.5 per cent from the corresponding period last year. The statement says, "The Gross Goods and Services Tax (GST) collections hit a record high in April 2024 at Rs 2.10 lakh crore. This represents a significant 12.4% year-on-year growth, driven by a strong increase in domestic transactions (up 13.4%) and imports (up 8.3%)."

In the previous month, on a net basis, taking into account the impact of refunds, GST revenue had risen by 18.4 per cent to Rs 1.65 lakh crore and on a gross level rose 11.5 per cent to Rs 1.78 lakh crore in March. For the full financial year 2023-24, net GST revenue had stood at Rs 18.01 lakh crore, a growth of 13.4 per cent.