GST collection rises to nine-month high of Rs 1.96 lakh crore, up 12.3% in January

GST collections rise in January

Goods and Services Tax collections rose to a nine-month high of Rs 1.96 lakh crore in January, staying above the Rs 1.7 lakh crore mark for the eleventh consecutive month, data released on February 1 showed.

Tax collections were 10.5 percent higher sequentially and 12.3 percent higher than in January 2024, when it stood at Rs 1.74 lakh crore.

Tax collections were lower than the Rs 2.1 lakh crore mark hit in April.

A rise in GST revenues indicates a better economic performance than the previous months. Growth was the highest witnessed in nine months as well.

Gross domestic revenues grew slower at 10 percent, while the growth in gross import revenue was higher at 19.8 percent.

The Budget, presented on February 1, projected GST to log 10.9 percent growth in FY26, keeping the tax buoyancy higher than 1, as nominal growth is expected to chart 10.1 percent rise in the coming fiscal.