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The Gross Goods and Services Tax (GST) collection reached an all-time high of Rs 2.37 lakh crore during April, reflecting a 12 per cent increase.
According to the government data released on Thursday, the total gross GST revenue was 2.10 lakh crore in April of the current year. The data shows that the GST revenue from the domestic transactions saw an uptick of 10.7 per cent to about Rs 1.9 lakh crore. The revenue from imported goods was up 20.8 per cent to Rs 46,913 crore, as the data suggests. The data shows that the refund issuances saw an uptick of a staggering 48.3 per cent to Rs 27,341 crore during the month. The Gross Goods and Services Tax (GST) collections for March 2025 stayed at Rs 19,56,034 crore (Rs 1.96 lakh crore), surging 9.9 per cent. The data revealed that collections in March were 6.8 per cent higher than the Rs 1.84 lakh crore recorded in the previous month. Observing the GST data, Saurabh Agarwal, Tax Partner, EY India, said, "The record GST collections underscore the Indian economy's underlying strength in the face of global economic uncertainties." "While a potential moderation in absolute GST collections is anticipated next month due to the current global economic climate, the overall outlook for the Indian economy remains optimistic," he added. 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. 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)
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