GST Collection Surges With Year-End Push

In March, India's gross GST collection increased by 9.9% to Rs 1.96 lakh crore, driven by higher domestic and import revenues. Deloitte India's MS Mani cites robust business activity, with annual growth reaching 9.4%. Growth variations across states prompt calls for analysis.

In March, India's gross GST collection surged by 9.9% to Rs 1.96 lakh crore, marking the second-highest monthly collection on record. This growth was fueled by an 8.8% increase in revenue from domestic transactions and a 13.56% rise from imported goods, according to government data released on Tuesday.

Deloitte India Partner MS Mani attributed the 9.9% increase to the year-end sales push by businesses. He noted that GST collections have consistently grown, with annual gross GST collections rising by 9.4% over the previous fiscal year.

Meanwhile, disparities in state-wise growth rates have attracted attention. For instance, Maharashtra, Haryana, and UP have seen over 10% growth, while states like Gujarat and Karnataka experienced slower rates. Experts like KPMG's Abhishek Jain highlight solid economic conditions and strong tax compliance as key factors in the overall growth.

(With inputs from agencies.)