Key economic indicators show buoyancy at end of FY24: NCAER Report
The PMI for manufacturing activity increased to 56.9 in February, reflecting a strong expansionary momentum.
The gross GST revenue collected in the month of December, 2023 was Rs 1,64,882 crore marking a 10.3% spike, as compared to the same period last year, the Ministry of Finance said on Monday.
Notably, this marks the seventh month so far this year with collections exceeding Rs 1.60 lakh crore.
Also, the average monthly gross GST collection in the first 9-month period this fiscal was Rs 1.66 lakh crore. This represents a 12% increase compared to the same period last fiscal, which was at Rs 1.49 lakh crore.
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The revenues from domestic transactions, including import of services, are 13% higher than the revenues from these sources during the same month last year.
The Ministry of Finance said, out of Rs 1,64,882 crore in December, CGST was Rs 30,443 crore, SGST was Rs 37,935 crore, IGST was Rs 84,255 crore – including ₹41,534 crore collected on import of goods – and cess was Rs 12,249 crore, including Rs 1,079 crore collected on import of goods.
The government has settled Rs 40,057 crore to CGST and Rs 33,652 crore to SGST from IGST, Finance Ministry said in a statement.
The total revenue of Centre and the States in the month of December, 2023 after regular settlement is Rs 70,501 crore for CGST and Rs 71,587 crore for the SGST.
During the April-December 2023 period, gross GST collection witnessed a robust 12% y-o-y growth, reaching Rs 14.97 lakh crore, as against Rs 13.40 lakh crore collected in the same period of the previous year.
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