GST revenue growth dips to a 3-month low in Dec.

Syllabus: GS-III

Subject: Indian Economy

Topic: Government Budgeting.

Context: Revenues cross ₹1,64,800 crore last month, about 1.8% lower than the amount collected in November; it marks seventh successive month of ₹1.6 lakh crore plus receipts, says Ministry


  • year on year growth slowing to a three-month low of 10.3% from a 15.1% rise in the previous month.
  • The average monthly gross GST kitty in the first nine months of 2023-24 stands at ₹66 lakh crore, compared to ₹1.49 lakh crore a year earlier.
  • GST Compensation Cess collections stood at ₹12,249 crore, of which ₹1,079 crore was levied on goods imports.
  • The consistent mark of above ₹6 lakh crore provides fiscal confidence amid various global headwinds.


GST Compensation cess:

  • GST Compensation Cess or GST Cess was introduced by the government to compensate for the possible revenue losses suffered by such manufacturing states.
  • Compensation cess is levied on five products considered to be. ‘sin’ or luxury as mentioned in the GST (Compensation to States) Act, 2017.
  • Initially valid only for five years from 2017 to 2022, The Centre has extended by four years till March 31, 2026.
  • Good and Services Tax:
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