Domestic revenue grew 5.9 percent to Rs 1.27 lakh crore last month. Revenue from import of goods grew 8 percent to Rs 45,390 crore.
GST Collection: According to government data released on Tuesday, the gross collection of Goods and Services Tax (GST) in the month of September grew by 6.5 percent year-on-year to around Rs 1.73 lakh crore. GST revenue was Rs 1.63 lakh crore in September last year. It was Rs 1.75 lakh crore in August 2024.
Domestic tax revenue grew 5.9 per cent to about Rs 1.27 lakh crore in September, according to official data.
At the same time, revenue from import of goods increased by 8 percent to Rs 45,390 crore. During the period under review, the GST department issued a refund of Rs 20,458 crore, which is 31 percent more than the same period a year ago. After adjusting the refund amount, the net GST revenue in September was Rs 1.53 lakh crore. This is 3.9 percent more than the same period last year.
The GST anti-profiteering system will not be effective from April 1, 2025. The GST policy cell of the government said in another notification that from October 1, all pending complaints under anti-profiteering provisions will be settled by the Principal Bench of the GST Appellate Tribunal (GSTAT) instead of the Competition Commission of India (CCI). These notifications are in line with the recommendations of the GST Council. The Council in its 53rd meeting on June 22 recommended amendments to section 171 and section 109 of the Central GST Act, 2017 to abolish the anti-profiteering provision under GST and to hear anti-profiteering cases by the Principal Bench of the GST Appellate Tribunal.
The council had also recommended a last date of April 1, 2025, for receipt of any new anti-profiteering application. The notification by the GST policy cell means that consumers will not be able to file anti-profiteering complaints against companies that do not pass on the benefit of GST rate cuts from April 1, 2025. However, complaints filed before April 1, 2025, will be heard by the principal bench of the GST Appellate Tribunal till they reach a final conclusion.
GST collection increase by 6.5 percent to Rs 1.73 lakh crore in September
