GST Collection Growth Amidst Economic Challenges

The gross GST collection in India rose by 7.3% year-on-year to Rs 1.77 lakh crore in December, despite a substantial rise in domestic and export refunds. Finance experts discuss the implications, stability, and potential measures needed to sustain and enhance GST framework and collections.

The Indian government's gross GST collection in December reached Rs 1.77 lakh crore, signifying a 7.3% increase compared to the same period last year, despite higher domestic and export refunds.

Central and State GST contributions were Rs 32,836 crore and Rs 40,499 crore, respectively, while Integrated IGST stood at Rs 47,783 crore, with Cess amounting to Rs 11,471 crore, according to recent data.

Experts attribute the stability in GST frameworks to the significant rise in refunds and emphasize the potential for strategic government measures to further boost consumption and tax revenues.

(With inputs from agencies.)