City
Epaper

Record GST collection showcases resilience of Indian economy: FM Sitharaman

By IANS | Updated: May 1, 2025 20:57 IST

New Delhi, May 1 The record GST collection in April showcases the resilience of the Indian economy and ...

Open in App

New Delhi, May 1 The record GST collection in April showcases the resilience of the Indian economy and the effectiveness of cooperative federalism, Union Finance Minister Nirmala Sitharaman said on Thursday.

Gross GST collections for April stood at Rs 2.36 lakh crore, marking a 12.6 per cent increase over the gross collection of Rs 2.10 lakh crore in April 2024.

Net GST collections for April 2025 reached Rs 2.09 lakh crore, reflecting a 9.1 per cent growth compared to the net collection of Rs 1.92 lakh crore in April 2024.

"Deepest gratitude to the taxpayers whose contributions and faith in the GST architecture drive the nation’s progress. Their contributions reflect a shared commitment to building a Viksit Bharat,” FM Sitharaman said in a post on social media platform X.

"Congratulations and sincere regards to the dedicated efforts Finance Ministers of all states and state GST authorities, who remain equal partners in India’s GST framework".

The Finance Minister also acknowledged the efforts of the field formations of the Central Board of Indirect Taxes and Customs (CBIC) for their sincere efforts.

The increase in GST collections was driven by the higher level of economic activity and better compliance.

GST collections from domestic transactions in April this year increased by 10.7 per cent to Rs 1.9 lakh crore, while revenue from imported goods shot up by 20.8 per cent to Rs 46,913 crore. Refund issuance rose 48.3 per cent to Rs 27,341 crore during April.

GST collections went up by 9.9 per cent to Rs 1.96 lakh crore during March this year compared to the same month of the previous year, reflecting the higher level of economic activity and better compliance.

Sequentially, the GST collections were 6.8 per cent higher than the Rs 1.84 lakh crore revenue recorded in February this year.

Gross GST revenue in March included Rs 38,100 crore from Central GST, Rs 49,900 crore from State GST, Rs 95,900 crore from Integrated GST, and Rs 12,300 crore from compensation cess.

In comparison, February saw Central GST collections at Rs 35,204 crore, State GST (Rs 43,704 crore), Integrated GST (Rs 90,870 crore), and compensation cess (Rs 13,868 crore).

Maharashtra, Karnataka, Gujarat, Tamil Nadu, and Uttar Pradesh were the top five contributors to GST collections in March.

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

Open in App

Related Stories

AurangabadNath Valley School celebrates Foundation Day

InternationalQuad ministerial meeting very productive, will strengthen Indo-Pacific stability: EAM Jaishankar

NationalQuad ministerial meeting very productive, will strengthen Indo-Pacific stability: EAM Jaishankar

InternationalISKCON temple in US targeted in suspected hate crime; India urges swift action and stands in solidarity

Cricket"It's a moment I'll cherish and remember for a very long time": Proteas batter Lhuan-dre Pretorius on his maiden test hundred

Business Realted Stories

BusinessIndia Mobile Congress 2025 gains pace with launch of flagship Startup and Developer programs

BusinessELI Scheme gets industry thumbs-up as game-changer for job creation

BusinessGujarat records 11 pc rise in GST collection for June 2025, total monthly tax revenue nears Rs 10,000 crore

BusinessCentre draws roadmap for zero-emission trucking to accelerate green drive

BusinessNMDC expands global footprint with its new office in Dubai, forging global pathways in mining