GST COLLECTIONS HIT RECORD

July 2, 2025

Current Context: In FY 2024–25, India’s Goods and Services Tax (GST) collections reached a record ₹22.08 lakh crore, doubling over five years—indicative of stronger economic activity and compliance.

ABOUT GST COLLECTIONS

Record High: ₹22.08 lakh crore in FY 2024–25, marking a 9.4% year‑on‑year (YoY) growth.
Five-year Trend: GST doubled from ₹11.37 lakh crore in FY21 to FY25.
Monthly Average: ₹1.84 lakh crore/month in FY25; June 2025 collected ₹85 lakh crore (+6.2% YoY).
Taxpayer Base: Active GST registrations grew from 0.65 crore in 2017 to over 1.51 crore by April

Imp. FACTS

GST Launch: Introduced on 1 July 2017 as a unified indirect tax replacing 17 taxes and 13 cesses.
Rate Structure: Five slabs—0%, 5%, 12%, 18%, 28%—plus special rates (e.g., gold, diamond).
Objective: Simplify taxation, reduce cascade effects, enhance transparency, and ease interstate business.