India’s Goods and Services Tax (GST) collection has reached a record ₹2.43 lakh crore due to a significant surge in imports.
Imports increased by 25.8%, contributing to the rise in GST revenue.
The GST revenue from imports totaled ₹57,580 crore.
Domestic revenue also saw growth, reaching ₹1.85 lakh crore, up 4.3% year-on-year.
The total refunds issued rose by 19.3%, amounting to ₹31,793 crore.
Domestic refunds surged by 54.6%, while export refunds declined by 14%.
This growth comes amid signs of softening domestic demand.
Last year’s GST collection for April was ₹2.23 lakh crore.
The previous year’s figure in April 2022 was ₹1.67 lakh crore.
The increase in imports reflects ongoing trends in trade and economic activity.
