GST collections hit record high in 2024-25; 85% of businesses happy with system

New Delhi [India], June 30 : India's Goods and Services Tax (GST) system has achieved a major milestone in 2024-25, with a record gross collection of ₹22.08 lakh crore, showing a 9.4 per cent growth over the previous year.

According to a release by the finance ministry, the average monthly GST collection stood at ₹1.84 lakh crore, the highest since GST was launched in 2017.

GST collections have steadily increased over the years, rising from ₹11.37 lakh crore in 2020-21 to ₹20.18 lakh crore in 2023-24, reflecting stronger economic activity and better compliance.

As of April 30, 2025, there are now over 1.51 crore active GST registrations, showing growing participation in the tax system.

The GST Council, which was formed under the Constitution to guide GST policy, has played a key role in shaping the system. It is chaired by the Union Finance Minister and includes state finance ministers and other key officials.

Since its formation in 2016, the Council has held 55 meetings, taking many important decisions to make the GST system simpler and more business-friendly.

Now in its eighth year, GST is widely seen as one of India's most important tax reforms. It replaced multiple indirect taxes with a single nationwide system, helping create a common national market and reducing the cost of doing business.

Businessesespecially small and medium onesbenefit from easier compliance, faster refunds, and fewer tax-related hurdles.

The recent Deloitte GST@8 survey confirms strong industry support for GST. It found that 85 per cent of business leaders had a positive experience with the system.

Key reasons included simplified tax processes, smooth input tax credit flow, the removal of old state taxes and check posts, and better use of digital technology.

Among small and medium enterprises (SMEs), support for GST also grewfrom 78 per cent last year to 82 per cent this yearshowing broader acceptance of the system. As GST enters its ninth year, it continues to evolve with a focus on ease of doing business, better compliance, and stronger economic growth.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor