Indian Gov’t Collected Record Goods And Services Tax In Apr

NEW DELHI, May 2 (NNN-PTI) – India’s finance ministry, yesterday said, a record 25.16 billion U.S. dollars were collected, as gross goods and services tax (GST) in Apr.

“This represents a significant 12.4 percent year-on-year growth, driven by a strong increase in domestic transactions (up 13.4 percent) and imports (up 8.3 percent),” the ministry said, in a statement.

After accounting for refunds, the net GST revenue for Apr this year stands at 1.92 trillion rupees (23 billion dollars), reflecting an impressive 15.5 percent growth, compared to the same period last year, it said.

According to the ministry, it is the first time the GST collections breached a landmark milestone of two trillion rupees (23.9 billion dollars).

– NNN-PTI