1st to 10th January 2024 - 12% Y-O-Y GROWTH DURING APRIL- DECEMBER 2023 PERIOD

Question 1

What is the YoY (year-over-year) growth rate of GST in the April-December 2023 period?

Answer 1

12%

Question 2

What was the total gross GST collection from April-December 2023?

Answer 2

Rs 14.97 lakh crore

Question 3

What is the average monthly gross GST collection in the first 9 months of FY24?

Answer 3

Rs 1.66 lakh crore

Question 4

Which major Indian states showed significant revenue growth in December?

Answer 4

Maharashtra, Uttar Pradesh, Karnataka, Tamil Nadu

Question 5

What was the general range of revenue growth these states experienced in December?

Answer 5

12-19%

Question 6

What does the term “YoY growth” mean in the context of GST collection?

Answer 6

It’s the percentage growth in GST collection in a given period compared to the same period in the previous year.

Question 7

Why is the average monthly gross GST collection an important figure?

Answer 7

It indicates the overall health of the GST system and provides a consistent measure of economic activity.

Question 8

What factors might contribute to the growth of GST collection?

Answer 8

Increased economic activity, wider tax base, improved tax compliance, stricter enforcement measures.