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Informist, Tuesday, Apr. 1, 2025

 

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--India Mar total GST collections at INR 1.96 tln 
--India Mar total GST collections at INR 1.96 tln, up 9.9% on year 
--India Mar total GST collections at INR 1.96 tln, up 6.8% on month 
--India Mar Central GST collections INR 381 bln 
--India Mar State GST collections INR 499 bln 
--India Mar Integrated GST collections INR 959 bln 
--India Mar GST cess collections INR 123 bln

 

NEW DELHI – India's goods and services tax collections grew 9.9% on year to INR 1.961 trillion in March, data released by the government Tuesday showed. Sequentially, GST collections were up 6.8% last month. At INR 1.961 trillion, GST collections in March were the highest in 11 months and the second highest for a month since the introduction of the tax in 2017.

 

Cumulatively, GST collections in 2024-25 (Apr-Mar) grew 9.4% on year to INR 22.09 trillion, slower than the 10.9% growth projected in the Budget.

 

Of the total collections in March, Central GST accounted for INR 381.45 billion, State GST INR 498.91 billion, Integrated GST accounted for INR 958.53 billion, and INR 122.53 billion was from compensation cess. GST revenue, net of refunds, was INR 1.765 trillion in March, up 7.3% on year.

 

Gross domestic GST revenue rose 8.8% on year to INR 1.492 trillion in March, while the import revenue rose to INR 469.19 billion from INR 413.18 billion a year ago. Refunds during the month rose 41.2% on year to INR 196.15 billion. The post-settlement revenues of states rose 11% on year to INR 9.739 trillion in FY25.

 

"A nearly 10% growth in collections compared to last year reflects economic stability and strong tax compliance by companies," said Abhishek Jain, indirect tax head and partner at KPMG. "With fiscal year-end adjustments and reconciliations underway, we can expect a further surge in month-on-month growth in the next set of collection."  End

 

Reported by Shubham Rana 

Edited by Akul Nishant Akhoury

 

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