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Gross GST collections double in five years to hit record ?22.08 lakh crore in FY25

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 India’s gross Goods and Services Tax (GST) collections have doubled over the past five years to reach a record ?22.08 lakh crore in the financial year 2024–25, up from ?11.37 lakh crore in FY21, according to government data released on Monday.The collections in FY25 represent a 9.4% year-on-year growth compared to ?20.18 lakh crore collected in FY24. This marks the highest-ever annual GST collection since the rollout of the indirect tax system in July 2017.The average monthly GST collection in FY25 stood at ?1.84 lakh crore, improving from ?1.68 lakh crore in FY24 and ?1.51 lakh crore in FY22. Back in FY22, the average monthly mop-up was just ?95,000 crore.Since its launch, GST has seen consistent growth, with the number of registered taxpayers rising from 65 lakh in 2017 to more than 1.51 crore in 2025, the data showed."Since its rollout, the goods and services tax has shown strong growth in revenue collection and tax base expansion. It has steadily strengthened India's fiscal position and made indirect taxation more efficient and transparent," a government statement on the eighth anniversary of GST said.GST replaced around 17 state and central taxes and 13 cesses, streamlining the indirect tax system into a unified five-tier structure. The system completes eight years on July 1.Monthly GST collections have also reached new highs this year. April 2025 saw a record ?2.37 lakh crore collected, followed by ?2.01 lakh crore in May. The figures for June 2025 are expected to be released on Tuesday.

 

-Economic Times 01st July,2025

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