Gross GST collection in May up 16 per cent to Rs 2.01 lakh crore
If May GST collections – tax collected for April transactions – are anything to go by, India's economy started the financial year with a bang despite the disruptions caused by US president Donald Trump's threat of reciprocal tariffs.
Gross monthly GST collections in May rose by 16.5% to breach Rs 2 lakh crore mark (Rs 2.01 lakh crore to be exact) – only third time since GST came into force in July 2017. Gross domestic revenue rose by 14% to Rs 1.5 lakh crore, while revenue from imports increased by 25% to Rs 51,000 crore.
Net GST revenues (after deducting refunds from gross collections) showed even better buoyancy as the same increased by 20.4% to Rs 1.74 lakh crore. Total refunds contracted by 4% year-on-year.
This is the second month in a row when gross collections witnessed double-digit growth. In April, gross GST collections hit an all-time high of Rs 2.36 lakh crore in April 2025, 12.6% higher than the collection of Rs 2.10 lakh crore in April 2024. This augurs well for the country as FY25 showed GST revenue collections growth slowing down to single digit numbers.
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