Gross Goods and Services Tax (GST) collections rose 9.1% year-on-year to reach approximately Rs 1.84 lakh crore in February 2025, driven primarily by robust growth in domestic revenues, according to the latest government data released on Saturday.
Strong Domestic Growth Drives GST Revenue
In February, domestic GST collections witnessed a substantial rise of 10.2%, amounting to Rs 1.42 lakh crore, highlighting strong economic activity across sectors. Meanwhile, GST revenues from imports recorded a moderate growth of 5.4%, contributing Rs 41,702 crore to the gross collections.Detailed Breakdown of GST Collections
During February 2025, detailed GST revenue figures stood as follows:- Central GST (CGST): Rs 35,204 crore
- State GST (SGST): Rs 43,704 crore
- Integrated GST (IGST): Rs 90,870 crore
- Compensation Cess: Rs 13,868 crore
GST Refunds Increase Significantly
Refunds issued during the month were notably higher, totaling Rs 20,889 crore, marking a sharp increase of 17.3% compared to the same period in the previous year.As a result, net GST collections, after accounting for refunds, grew by 8.1% to approximately Rs 1.63 lakh crore.
Comparison with February 2024
In comparison, gross GST collections stood at Rs 1.68 lakh crore in February 2024, with net revenues recorded at Rs 1.50 lakh crore, clearly indicating steady growth in India's tax revenue generation.The consistent rise in GST collections reflects ongoing strength and resilience in India's domestic economy, underscoring positive momentum in economic activities across the nation.
Last updated by a enewsx:
