GST Collections Hit Record High: Rs 2.37 Lakh Crore in April
The Goods and Services Tax (GST) revenue reached a record-breaking Rs 2.37 lakh crore in April, marking a 12.6 per cent year-on-year increase, according to official government statistics released on Thursday. This surpasses the previous second-highest collection of Rs 2.10 lakh crore recorded in April 2024, since the implementation of the indirect tax system on July 1, 2017. The collection in March 2025 stood at Rs 1.96 lakh crore.
The GST earnings from domestic transactions increased by 10.7 per cent, amounting to approximately Rs 1.9 lakh crore, while revenue from imported goods witnessed a 20.8 per cent growth, reaching Rs 46,913 crore.
The government issued refunds worth Rs 27,341 crore in April, marking a 48.3 per cent increase. The net GST collection, after accounting for refunds, demonstrated a 9.1 per cent growth, totalling more than Rs 2.09 lakh crore in April.
Commenting on the record collections, Abhishek Jain, Indirect Tax Head & Partner, KPMG, said, "The all-time high GST collections are a strong indicator of robust economic activity. While this reflects ongoing recovery and growth, a significant contributor is also the year-end reconciliation process, which typically results in additional tax payments by businesses to align their returns during the year."
GST revenue witnessed a 9.1% growth, reaching Rs 183,646 crore in February, primarily driven by substantial increases in domestic revenue collection. The January collections amounted to Rs 1.96 lakh crore, showing a significant year-on-year improvement of 12.3%. The collections in December totalled Rs 1.77 lakh crore, indicating a 7.3% rise compared to the previous year. This growth rate was lower than November’s 8.5% increase, with the decline attributed to reduced post-festive season spending.
The government’s Budget forecasts anticipate an 11% rise in GST revenue, with projected collections of Rs 11.78 lakh crore, encompassing both Central GST and compensation cess components.
This story is being updated.
Reference : https://timesofindia.indiatimes.com/business/india-business/gst-collections-in-april-hit-record-high-of-rs-2-37-lakh-crore-details-here/articleshow/120791701.cms
