<p>New Delhi: Revenue collection from <a href="https://www.deccanherald.com/tags/gst">Goods and Services Tax (GST)</a> increased by around 10% year-on-year to Rs 1.96 lakh crore in March driven by robust mop-up in the states like Maharashtra, Haryana and Uttar Pradesh even as Karnataka posted a sluggish growth, data released by the Finance Ministry showed on Tuesday.</p><p>After adjusting refunds, net GST revenue during the month stood at Rs 1.76 lakh crore, which is 7.3% higher when compared with the same month last year.</p>.Income Tax, GST, UPI, pension schemes: Key changes from today.<p>GST collection in Karnataka, which is the second largest contributor to the country’s indirect tax kitty, stood at Rs 13,497 crore in March, posting a sluggish growth of 4% over the same month last year.</p> <p>The largest contributor to the GST kitty -- Maharashtra recorded a robust growth of 14% during the month. Maharashtra’s GST revenue collection jumped to Rs 31,534 crore in March from Rs 27,688 crore recorded in the same month last year.</p> <p>“There continues to be a wide variation in the growth rates of GST collections across key manufacturing and consuming states. While states like Maharashtra, Haryana, Uttar Pradesh and Rajasthan have shown a growth exceeding 10% , other states like Gujarat, Karnataka, Telangana, Andhra Pradesh and Tamil Nadu have been in the range of -1% to 7%,” said MS Mani, Partner, Deloitte India.</p> <p>GST revenue from domestic transactions in March increased by 8.8% to Rs 1.49 lakh crore, while revenue from imported goods jumped at a faster pace of 13.56% to Rs 46,919 crore.</p><p>The full year GST revenue collection in 2024-25 stood at Rs 22.08 lakh crore, which is 9.4% higher when compared with the Rs 20.18 lakh crore collections recorded in 2023-24.</p><p>There was a sharp increase in refunds during the month. GST refunds to exporters jumped by 202% in March. “Generally refunds are slow in March in any fiscal year but this time, it seems that an exception is made to assist exporters, already reeling in uncertainty due to the Trump 2.0 regime,” said Vivek Jalan, Partner, Tax Connect Advisory Services.</p>
<p>New Delhi: Revenue collection from <a href="https://www.deccanherald.com/tags/gst">Goods and Services Tax (GST)</a> increased by around 10% year-on-year to Rs 1.96 lakh crore in March driven by robust mop-up in the states like Maharashtra, Haryana and Uttar Pradesh even as Karnataka posted a sluggish growth, data released by the Finance Ministry showed on Tuesday.</p><p>After adjusting refunds, net GST revenue during the month stood at Rs 1.76 lakh crore, which is 7.3% higher when compared with the same month last year.</p>.Income Tax, GST, UPI, pension schemes: Key changes from today.<p>GST collection in Karnataka, which is the second largest contributor to the country’s indirect tax kitty, stood at Rs 13,497 crore in March, posting a sluggish growth of 4% over the same month last year.</p> <p>The largest contributor to the GST kitty -- Maharashtra recorded a robust growth of 14% during the month. Maharashtra’s GST revenue collection jumped to Rs 31,534 crore in March from Rs 27,688 crore recorded in the same month last year.</p> <p>“There continues to be a wide variation in the growth rates of GST collections across key manufacturing and consuming states. While states like Maharashtra, Haryana, Uttar Pradesh and Rajasthan have shown a growth exceeding 10% , other states like Gujarat, Karnataka, Telangana, Andhra Pradesh and Tamil Nadu have been in the range of -1% to 7%,” said MS Mani, Partner, Deloitte India.</p> <p>GST revenue from domestic transactions in March increased by 8.8% to Rs 1.49 lakh crore, while revenue from imported goods jumped at a faster pace of 13.56% to Rs 46,919 crore.</p><p>The full year GST revenue collection in 2024-25 stood at Rs 22.08 lakh crore, which is 9.4% higher when compared with the Rs 20.18 lakh crore collections recorded in 2023-24.</p><p>There was a sharp increase in refunds during the month. GST refunds to exporters jumped by 202% in March. “Generally refunds are slow in March in any fiscal year but this time, it seems that an exception is made to assist exporters, already reeling in uncertainty due to the Trump 2.0 regime,” said Vivek Jalan, Partner, Tax Connect Advisory Services.</p>