State sees 6 pc growth in GST revenue collection
Source: Chronicle News Service

Imphal, April 01 2024: Amidst nationwide reports of significant growth in Gross Goods and Services Tax (GST) revenue collection, Manipur showcased its economic resilience and progress witnessing 6 per cent growth during the month of March as compared with the corresponding month last year.

According to data released by the Press Information Bureau (PIB) Delhi, Manipur recorded a GST revenue collection of Rs 69 crore in March 2024, reflecting 6 per cent growth from the previous year's figure of Rs 65 crore.

Analysing the post-settlement SGST figures for the fiscal year 2023-24, the state exhibited a slight decrease in revenue, with Rs 1,095 crore collected compared to Rs 1,439 crore in the previous fiscal year.

However, the pre-settlement SGST witnessed 8 per cent growth with a collection of Rs 346 crore in 2023-24 against Rs 321 crore in 2022-23 .

Meanwhile, the country's overall GST revenue for March 2024 witnessed the second highest collection ever at Rs 1.78 lakh crore, with an 11.5 per cent year-on-year growth.

This surge was driven by a significant rise in GST collection from domestic transactions at 17.6 per cent.

GST revenue net of refunds for March 2024 is Rs 1.65 lakh crore which is growth of 18.4 per cent over same period last year.

In the month of March, 2024, the Central government settled Rs 43,264 crore to CGST and Rs 37,704 crore to SGST from the IGST collected.

This translates to a total revenue of Rs 77,796 crore for CGST and Rs 81,450 crore for SGST for March, 2024 after regular settlement.

For the FY 2023-24, the central government settled Rs 4,87,039 crore to CGST and Rs 4,12,028 crore to SGST from the IGST collected.

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