Question

    What is the year-on-year (YOY) growth rate for the Goods and Services Tax (GST) for June 2024?

    A 5.25% Correct Answer Incorrect Answer
    B 6.50% Correct Answer Incorrect Answer
    C 7.70% Correct Answer Incorrect Answer
    D 8.00% Correct Answer Incorrect Answer
    E 9.20% Correct Answer Incorrect Answer

    Solution

    The GST collection for June 2024 grew by 7.7% compared to June 2023, reaching ₹1.74 lakh crore. The slower growth is attributed to a deceleration in economic activity and lower imports, despite strong domestic consumption and compliance efforts by the tax authorities.

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