New Delhi, Feb 1 (SocialNews.XYZ) The Goods and Services Tax (GST) collections reached Rs 1,93,384 crore in the month of January, up 6.2 per cent from the same month last year, official data showed on Sunday.
Gross GST collections were Rs 1,82,094 crore in January. On a year-to-date basis (April–January), gross collections jumped to Rs 18,43,423 crore, marking a strong 8.3 per cent growth (on-year), the data showed.
Moreover, the net GST revenue for January stood at Rs 1,70,719 crore, up 7.6 per cent from the same month last year. Year-to-date net revenue reached Rs 15,95,752 crore, an annual growth of 6.8 per cent.
Domestic GST collections rose 4.8 per cent year-on-year to Rs 1,41,132 crore. Import GST collections remained strong, with gross import revenue at Rs 52,253 crore, up 10.1 per cent from January 2025.
The compensation cess, continuing as a transitional measure, dropped to Rs 5,768 crore, down from Rs 13,009 crore last year.
Total refunds recorded at Rs 22,665 crore for January, a slight decline of 3.1 per cent year-on-year. State-wise post-settlement GST revenues showed a mixed picture.
In December, GST collection recorded a 6.1 per cent increase to Rs 1,74,550 crore compared to Rs 1,64,556 crore in the same month of the previous year, reflecting the increase in economic activity during the month. Central GST collections rose to Rs 34,289 crore, state GST collections to Rs 41,368 crore, and integrated GST collections to Rs 98,894 crore.
Meanwhile, the Finance Ministry issued a series of notifications that brought into effect the new tax regime for tobacco products from February 1.
The ministry also released an FAQ list to explain that, under the Goods and Services Tax regime, the excise duty on cigarettes had so far been rendered a nominal amount of a "fraction of a paisa" per cigarette stick, and that the GST compensation cess rate on tobacco products had not been increased since it was implemented in July 2017.
Source: IANS
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