GST Collections Reach Record ₹2.37 Lakh Crore
GST Collections Reach Record ₹2.37 Lakh Crore
Why in the News ?
In April 2025, Goods and Services Tax (GST) collections hit a record ₹2.37 lakh crore, up 12.6% YoY, signalling strong economic activity and effective year-end reconciliation by businesses. Net GST collections crossed ₹2.09 lakh crore post-refunds.
Record-High GST Collections:
- April 2025 GST collection: ₹2.37 lakh crore, up 6% YoY.
- Previous high: ₹2.10 lakh crore (April 2024).
- Reflects robust economic performance and year-end accounting reconciliation.
- Net GST after refunds (₹27,341 crore): ₹2.09 lakh crore, up 1% YoY.
Breakdown by Source and State Trends
- Domestic transaction revenue: ₹1.9 lakh crore (+10.7% YoY).
- Import revenue: ₹46,913 crore (+20.8% YoY).
- Central GST: ₹48,634 crore; State GST: ₹59,372 crore.
- Integrated GST: ₹69,504 crore; Cess: ₹12,293 crore.
- Growth was uniform across all major States (range: 11–16%), unlike earlier months.
Economic and Industry Implications
- Indicates resilient Indian economy amid global uncertainties.
- Experts (Deloitte, EY, KPMG) cite strong underlying demand and improved compliance.
- Faster refunds have reduced working capital stress for industries.
- A temporary dip in future collections is possible, but medium-term outlook remains positive.