India's GST Revenues Hit Record High in April At ₹1.87 lakh crore

India's April gross GST revenues reached a record high of ₹ 1,87,035 crore, a 12% increase from last year's highest tax tally of ₹1.67 lakh crore for the same month.

Domestic GST revenues, including import of services, rose 16% YoY in April. Goods import figures were not revealed, but had increased 8% in March according to the Finance Ministry.

In April, GST Compensation Cess collections reached a new record of ₹12,025 crore, including ₹900 crore from imports. This surpasses the previous high of ₹11,931 crore in February.

Further, on April 20 taxpayers made a record-breaking GST contribution of ₹68,228 crore through 9.8 lakh transactions, according to the ministry. This was the highest ever single day GST collection.