GST collections in May 2025 up 16.4% to Rs 2.01 lakh crore

India Gazette

6 days ago

New Delhi [India], June 1 (ANI): The gross Goods and Services Tax (GST) collection rose 16.4 per cent to Rs 201,050 crore, according to official data released on Sunday.
In May 2024, the collections were to the tune of Rs 172,739 crore.
In the month of May, collections of CGST, SGST, IGST, and cess all rose year-on-year.
So far in April-May 2025-26, the GST collections were at Rs 437,767 crore, up 14.3 per cent from Rs 383,006 crore in the same period last year.
GST collection in 2024-25 stood at Rs 22 lakh crore, up 9.4 per cent year-on-year.
During the financial year 2023-24, the total gross GST collection was recorded at Rs 20.18 lakh crore, with an 11.7 per cent increase.
The recent GST collections reflect a positive trajectory for India's economy, underscoring robust domestic consumption and buoyant import activity. The figures bode well for the country's fiscal health and economic recovery efforts, signalling resilience amidst global uncertainties.
The Goods and Services Tax was introduced in the country with effect from July 1, 2017, and states were assured compensation for loss of any revenue arising on account of the implementation of GST as per the provisions of the GST (Compensation to States) Act, 2017 for five years.
Hair oil, toothpaste, soap; detergents and washing powder; wheat; rice; curd, lassi, buttermilk; wristwatches; TV up to 32 inches; refrigerators; washing machines, mobile phones, are among key items on which GST rates have been slashed substantially, or for some kept at zero, benefiting people of this country.
The GST Council, a federal body comprising the Union Finance Minister as its Chairman and Finance Ministers of all States as members, has played its part in the forum.
The latest meeting of the GST Council was held on December 21 at Jaisalmer, Rajasthan. (ANI)