GST collections rise 7.3 pc to Rs 1.77 lakh cr in December
By : Madhusudan Sahoo
Update: 2025-01-01 15:11 GMT
New Delhi: Goods and Services Tax (GST) collections rose by 7.3% to ₹1.77 lakh crore in December, maintaining figures above the ₹1.7 lakh crore mark for the tenth consecutive month. While higher than the ₹1.65 lakh crore collected in December 2023, it fell short of the record ₹2.1 lakh crore achieved in April 2024, according to government data released on Wednesday.
In the financial year 2024-25 so far, total GST collections have surged by 9.1% to ₹16.33 lakh crore, compared to ₹14.97 lakh crore in the same period last year. For the full financial year 2023-24, gross GST revenues reached ₹20.18 lakh crore, reflecting an 11.7% growth over the previous fiscal.
December's GST revenue comprised ₹32,836 crore in central GST (CGST), ₹40,499 crore in state GST (SGST), ₹47,783 crore in integrated GST (IGST), and ₹11,471 crore in cess. Domestic GST revenue rose by 8.4% to ₹1.32 lakh crore, while tax on imports increased by 4% to ₹44,268 crore.
The GST mop-up in November 2024 stood at ₹1.82 lakh crore, registering 8.5% annual growth. The highest-ever monthly collection remains ₹2.1 lakh crore, recorded in April 2024.
Refunds issued in December totaled ₹22,490 crore, marking a 31% increase compared to the same period last year. After adjusting for refunds, net GST collections grew by 3.3% to ₹1.54 lakh crore.