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GST collection in India for May 2024 UPSC NOTE


  • Collection Amount: ₹1.73 lakh crore (lower than April'24 but higher than May'23)

  • Significance: Experts believe this is the "new normal" average for FY25 (up from ₹1.6 lakh crore in FY24)

  • Year-on-Year Growth: 11.3% (driven by domestic transactions +14.2%, imports +1.4%)

  • Net GST Revenue (till May): ₹3.36 lakh crore (growth of 11.6%)

Expert Opinions:

  • M.S. Mani (Deloitte): GST numbers reflect a robust economy.

  • Saurabh Agarwal (EY): Growth in developing regions (J&K, Manipur, Puducherry, Arunachal Pradesh) indicates broader economic progress.

  • Rise in northern states (Delhi, UP) might be due to election spending and heatwave purchases (fans, coolers, ACs).

  • Decline from April'24 could be due to year-end tax payments and stagnant auto sales.

  • Vivek Jalan (Tax Connect): Increased collections due to stricter recovery actions by some GST departments.



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Learnerz IAS | Concept oriented UPSC Classes in Malayalam: GST collection in India for May 2024 UPSC NOTE
GST collection in India for May 2024 UPSC NOTE
Learnerz IAS | Concept oriented UPSC Classes in Malayalam
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