GST collections at 3-month high of Rs 1.93 lakh crore, up 6.2% in January

GST collection for January

India’s goods and services tax (GST) collections rose 6.2 percent year-on-year in January to Rs 1.93 lakh crore, according to sources, signalling steady consumption momentum. Gross GST revenue stood was at Rs 1.82 lakh crore in the same month last year.

Of Rs 1.93 lakh crore, domestic transactions accounted for Rs 1.41 lakh crore, up 4.8 percent, while revenue from imports rose a sharper 10.1 percent to Rs 52,253 crore, indicating resilient import demand.

Central GST (CGST) rose to Rs 38,792 crore, while state GST (SGST) stood at Rs 47,817 crore. Integrated GST (IGST), which largely reflects inter-state trade and imports, came in at Rs 1,06,775 crore, higher than Rs 1,01,075 crore last year.

After accounting for refunds, net GST collections rose 7.6 percent year-on-year to Rs 1.71 lakh crore in January. Net domestic revenue grew 6.2 percent to Rs 1.28 lakh crore, while net GST from imports jumped 11.9 percent to Rs 42,707 crore, underscoring the stronger contribution from cross-border trade.