Gujarat's GST revenue in first quarter rose by 24% to Rs 16k crore

Gujarat's revenues from GST grew by 24% in the first quarter of the fiscal year 2023-24.

The state's revenues from GST stood at Rs 16,727 crore from April to June 2023, which includes SGST and IGST settlement, against Rs 13,467 crore in the previous fiscal.

Economic growth and improved industrial activity in addition to inflation are factors behind the increase, state commercial tax officials said.

In fiscal year 2022-23, the state clocked 23% growth in revenues, collecting Rs 56,064 crore compared to Rs 45,464 crore in 2021-22.

GST mop-up from Gujarat including SGST, CGST, IGST and cess collection stood at Rs 10,119.1 crore in June, a 11% increase from last year, according to data from the Union finance ministry.