GST Collection Hits Record High Amid Strong Economic Activity

GST collection in India reached a record Rs 2.37 lakh crore in April, marking a 12.6% increase year-on-year. This surge indicates robust economic activity and March-end reconciliations by businesses. GST revenues rose from both domestic and imported goods, demonstrating resilience amidst global economic uncertainties.

In a significant economic milestone, GST collections in India soared to an unprecedented Rs 2.37 lakh crore in April, a 12.6% rise year-on-year, according to recent government data.

Experts attribute this growth to strong economic activity and the fiscal year-end reconciliation of business accounts, with notable increases from both domestic transactions and imported goods. Refunds also saw a substantial rise, easing industries' capital burdens.

Despite uncertainties in the global economy, the Indian fiscal outlook remains positive, with the record GST collections underscoring the nation's economic fortitude.

(With inputs from agencies.)