GST Collections Up 10% At 1.96 Lakh Crore: What Does This Mean?

India’s Gross Goods and Services Tax (GST) collections for March 2025 surged 9.9% year-on-year to Rs 1,96,141 crore, as per government data released on Tuesday. In comparison, GST collections in March 2024 stood at Rs 1,78,484 crore.

Revenue from domestic transactions rose 8.8% to Rs 1.49 lakh crore, while revenue from imported goods grew by 13.56% to Rs 46,919 crore.

After adjusting refunds, net GST revenue for March stood at Rs 1.76 lakh crore, reflecting a 7.3% year-on-year increase. Refunds surged by 41% to Rs 19,615 crore during the month.

For FY25, gross GST collections reached Rs 22.08 lakh crore, marking a 9.4% rise from the previous year. Net collections, after adjusting refunds, stood at Rs 19.56 lakh crore, up 8.6% year-on-year.

In the January-March quarter, GST collections were worth Rs 5.8 lakh crore, recording a 10.4% increase from the same period last year. Net GST collections for March, after excluding refunds, also saw a 7.6% rise compared to the previous year.