Gross GST revenue rose 12.3 per cent to Rs 1.96 lakh crore in January on higher domestic economic activity, government data showed on Saturday.
This includes 10.4 per cent growth in revenue from sale of goods and services domestically at Rs 1.47 lakh crore and 19.8 per cent rise in tax revenue from imported goods at Rs 48,382 crore.
Total gross GST revenue stood at Rs 1,95,506 crore in January, a 12.3 per cent growth year-on-year.
Refunds of Rs 23,853 crore were issued during the month, a rise of 24 per cent. Total net GST revenue, after adjusting refunds, stood at Rs 1.72 lakh crore, higher by 10.9 per cent.
KPMG, Indirect Tax Head & Partner, Abhishek Jain said this consistent increase in GST collection could indicate an uptick in economic growth and sustained tax compliance by businesses.
"Notably, the growth in collections despite higher refunds is commendable, suggesting improved efficiency in refund processing by the department—an encouraging step toward enhancing ease of doing business," Jain added.
Deloitte India, Partner, MS Mani said with significant increases of 10-20 per cent in GST collection in large states like Tamil Nadu, Maharashtra, Gujarat Telangana and UP, concern for State and Central GST authorities is that similar large states like Karnataka, Haryana, Rajasthan, MP, Punjab and West Bengal have shown a rise of just 5-9 per cent.
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