GST Collections Surge 9.9% to Rs 1.96 Lakh Crore in March 2025
Hey everyone, let’s talk about the latest update on GST collections in India. The numbers for March 2025 are in, and they show an impressive rise of 9.9% compared to last year. The total GST collected for the month stands at a massive Rs 1.96 lakh crore, a clear indicator of economic resilience and strong tax compliance.
Breaking it down, Central GST (CGST) contributed Rs 38,100 crore, while State GST (SGST) accounted for Rs 49,900 crore. The Integrated GST (IGST) made up the largest portion at Rs 95,900 crore, and the GST cess collections stood at Rs 12,300 crore. This marks consistent growth in revenue generation, reflecting stability in the economy and increased consumer activity.
What’s even more interesting is that February had already seen a significant jump of 9.1% in GST collections, reaching Rs 1.83 lakh crore. The momentum carried forward into March, likely boosted by fiscal year-end adjustments and increased business transactions.
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Experts are weighing in on this trend. Abhishek Jain, Indirect Tax Head & Partner at KPMG, noted that this nearly 10% rise in GST collections is a sign of economic stability and improved tax compliance. He also mentioned that as businesses complete their fiscal reconciliations, we might see an even higher month-on-month growth in the upcoming reports.
Looking at the bigger picture, the total GST revenue collected in the financial year 2024-25 reached Rs 22.08 lakh crore, reflecting a 9.4% annual increase. After refund adjustments, the net collections stood at Rs 19.56 lakh crore, growing by 8.6% compared to the previous year. These numbers align well with the government's budget expectations, which had projected an 11% rise in GST revenue for the year.
When we compare these figures with the past few months, we see a consistent growth pattern. January’s collections hit Rs 1.96 lakh crore, recording a 12.3% growth from the previous year. December’s GST revenue was Rs 1.77 lakh crore, growing by 7.3%, but slightly lower than November’s 8.5% growth. This dip in December was attributed to a natural slowdown in spending post the festive season.
With these robust numbers, it’s clear that India’s tax compliance efforts and economic recovery are moving in the right direction. Businesses are adapting well, and the government’s policies seem to be fostering a stable and growing economy. As we move into the next financial year, all eyes will be on how GST collections continue to perform and whether they can surpass the budgeted targets.
That’s all for now on the GST front. Stay tuned for more updates on India’s financial landscape!
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