India's GST Revenue Hits New High: Can This Momentum Be Sustained? In a remarkable milestone, India's Goods and Services Tax (GST) revenue has reached a historic high.

Since its introduction on July 1, 2017, the GST system has evolved significantly, and in April 2024, collections crossed the Rs. 2 lakh crore-mark for the first time, hitting Rs. 2.1 lakh crore.

This represents a 12.5% year-on-year growth, marking the highest ever monthly collection from this indirect tax levy.

To put this achievement in perspective, the GST mop-up was Rs. 92,283 crore in its first month of rollout in July 2017. It crossed the Rs. 1 lakh crore threshold for the first time in April 2018, amounting to Rs. 1.03 lakh crore.

Over the years, the number of taxpayers under the GST regime has nearly trebled from 5.95 million at its inception to 14.6 million today.

Union Finance Minister Nirmala Sitharaman highlighted the improvements in tax buoyancy, noting that it has increased from 0.72 (pre-GST) to 1.22 (2018-23). Despite the end of compensation, state revenues have remained robust at 1.15.

This record-breaking GST collection underscores the effectiveness and efficiency of the GST system. However, the critical question remains: Can this growth momentum be sustained in the coming months and years?

What are your thoughts on the sustainability of this revenue growth? Let's discuss! #GST #TaxRevenue #IndiaEconomy