Gross Goods and Services Tax (GST) collections rise 16.4% to over Rs. 2,01,000 crore (US$ 23.52 billion) in May: Government data
- IBEF
- June 2, 2025
Gross Goods and Services Tax (GST) collections remained above the Rs. 2,00,000 crore (US$ 23.41 billion) mark for the second consecutive month in May 2025, rising 16.4% to Rs. 2,01,000 crore (US$ 23.52 billion). This follows a record high of Rs. 2,37,000 crore (US$ 27.74 billion) in April 2025. Compared to May 2024’s Rs. 1,73,000 crore (US$ 20.25 billion), the net GST mop-up registered a strong YoY growth of 20.4% to approximately Rs. 1,74,000 crore (US$ 20.36 billion). Domestic GST revenues increased 13.7% to Rs. 15,00,00 crore (US$ 17.55 billion), while GST collections from imports surged 25.2% to Rs. 51,266 crore (US$ 6.00 billion). Central GST stood at Rs. 35,434 crore (US$ 4.15 billion), State GST at Rs. 43,902 crore (US$ 5.14 billion), Integrated GST at Rs. 1,09,000 crore (US$ 12.76 billion), and cess revenues at Rs. 12,879 crore (US$ 1.51 billion). Total refunds issued declined 4% to Rs. 27,210 crore (US$ 3.18 billion).
Partner at Deloitte India, Ms. M S Mani, highlighted the uneven growth across states, with large states like Maharashtra, West Bengal, Karnataka, and Tamil Nadu posting 17-25% increases, while Gujarat, Andhra Pradesh, and Telangana saw more modest growth of up to 6%. Other states, including Madhya Pradesh, Haryana, Punjab, and Rajasthan, showed a median growth of 10%. Partner at Price Waterhouse & Co LLP, Mr. Pratik Jain, noted that the 16% growth indicates renewed momentum after several months of 11-12% increases, potentially allowing the government to consider GST rate rationalisation. Vice President at EY India, Mr. Saurabh Agarwal, suggested that geopolitical tensions may limit further growth in June. Partner at Tax Connect Advisory Services, Mr. Vivek Jalan, observed that the month’s GST growth was largely driven by import revenues, which grew 73%, as opposed to domestic consumption, supported by subdued export refund growth.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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