Skip to main content

GST collections jump 16.4% yoy to Rs 2.01 lk cr in May, fall from record high in April

By

 India’s gross Goods and Services Tax (GST) collection for May 2025 stood at Rs 2.01 lakh crore, registering a 16.4 per cent increase over the Rs 1.72 lakh crore collected in May 2024, data released by the Ministry of Finance showed Sunday.In April 2025, India's GST collections had surged by 12.6 per cent to an all-time high of Rs 2.37 lakh crore.The year-on-year growth was driven by a 25.2 per cent increase in GST collected from imports and a 13.7 per cent rise from domestic transactions. Gross GST revenue from imports stood at Rs 51,266 crore, while domestic sources contributed Rs 1,49,785 crore.For May, gross GST revenue reached Rs 4.37 lakh crore, reflecting a 14.3 per cent rise compared to Rs 3.83 lakh crore collected in the same period last year.After refunds, the net GST revenue for May stood at Rs 1,73,841 crore, up 20.4% compared to Rs 1,44,381 crore collected in May 2024. Total refunds during the month stood at Rs 27,210 crore, down 4% year-on-year.In the Budget, the government projected an 11 per cent increase in GST revenue for the year, estimating collections at Rs 11.78 lakh crore, including Central GST and compensation cess.

 

-Economic Times,02 june,2025

Comments

Post a Comment

Popular posts from this blog

Govt’s gamble on GST cuts: What do the bond and currency markets signal?

By
  It’s not just humans who suffer from cognitive biases; markets do too. Interestingly, different financial markets exhibit distinct biases, each interpreting events through its own prism of prejudice. Take the recent announcements on GST reforms: equity markets have chosen to view them through the lens of growth, while bond and currency markets are focusing on potential macroeconomic risks—fiscal pressures and current account challenges. So, which lens captures the true pulse?Equity markets may be right in expecting GST reforms to revive consumption, which has remained lacklustre for a while. But the key question remains—will this revival come at the cost of broader macro stability?It is well known that consumption stocks have rallied since the GST rationalisation announcement. But what about bond markets? What signals are they sending since this rejig was announced from the ramparts of the Red Fort?The signs aren't encouraging. Bond prices have slumped and yields have surged sinc...
Post a Comment
Read more

Luxury carmakers urge clarity on GST rates to boost festive season sales

By
  A clear picture regarding new GST rates at the earliest will help the overall auto industry, including the luxury car segment, to regain momentum in the ongoing quarter, which generally sees enhanced sales on account of the festive season.The high-powered GST Council, chaired by Finance Minister Nirmala Sitharaman, will meet on September 3-4 to discuss moving to a two-slab taxation.In an interaction with PTI, BMW Group India President and CEO Hardeep Singh Brar said the recent speculation about the change in GST rates has caused uncertainty in the minds of consumers.Consumer interest and demand is strong, but they (prospective buyers) have adopted a wait-and-watch approach, and this delayed decision-making is impacting new vehicle sales at a certain level, he noted."Expediting clarity on GST rates is essential to get back to speed and ensure the auto sector's contribution to economic growth during this quarter is robust," Brar stated.He also hoped that the sustainable p...
Post a Comment
Read more

Sebi proposes tighter norms for green bond third-party reviewers

By
  Sebi on Friday said it has proposed to tighten the norms to appoint independent third-party reviewers or certifiers for green debt securities to align them with requirements for other ESG-linked bonds.In a draft circular, Sebi said that the current norms for green bonds, introduced in February 2023, lack detailed requirements around reviewer independence, conflict of interest mitigation, and disclosure standards that are now in place for other ESG-linked securities under a June 2025 circular.The regulator's latest proposal seeks public comments on a revised framework that would bring parity by incorporating comprehensive criteria for third-party certifiers of green bonds on non-convertible securities.Under the proposed norms, issuers of green debt securities will need to appoint reviewers who are independent of their management, directors, and key managerial personnel. These reviewers will be remunerated in a way that prevents any conflicts of interest and possess relevant expert...
Post a Comment
Read more