New Delhi. The government's treasury was filled even as last year ended. The Finance Ministry released data on Wednesday and said that the country's GST collection in December increased by 7.3 percent to Rs 1.77 lakh crore as compared to last year. GST collection in December 2023 was Rs 1.65 lakh crore. In November 2024, the country's total GST collection was Rs 1.84 lakh crore.

The government released the figures and said that in the month of December, the Central GST collection was Rs 32,836 crore, State GST Rs 40,499 crore, Integrated GST (IGST) Rs 47,783 crore and cess Rs 11,471 crore. With this, the total Goods and Services Tax (GST) revenue increased by 7.3 percent to Rs 1.77 lakh crore, which is more than 7 percent compared to last year. In December, GST from domestic transactions increased by 8.4 percent to Rs 1.32 lakh crore, while the revenue obtained from tax on imports increased by about four percent to Rs 44,268 crore.

The year 2024 was very good for GST collection. During this period, the collection
made a record. Since the implementation of GST in the year 2017, the highest collection so far was Rs 2.10 lakh crore in April 2024. Rs 22,490 crore has also been returned to the companies in the month of December as input tax credit. This is 31 percent more than the same month last year. After adjusting for the refunded amount, the net GST collection has increased by 3.3 percent to Rs 1.54 lakh crore.

Where does most of the collection come from?
The government gets the most GST collection from the domestic front. This includes the expenditure of the common man as well as the expenditure made by the companies. The government also gets a lot of collection in the form of import duty. There is a section in GST in which both the state and the central government have a share. From this integrated GST, the government releases the share of the states to them.