GST collections double in 5 years! Government data released on Monday revealed that Gross GST (Goods and Services Tax) collections reached a record high of Rs 22.08 lakh crore in 2024-25 fiscal year, showing a remarkable increase from Rs 11.37 lakh crore in FY21, effectively doubling in five years.The monthly collection average increased to Rs 1.84 lakh crore in FY25, representing a significant rise from Rs 1.68 lakh crore in FY24 and Rs 1.51 lakh crore in FY22.The GST system has seen substantial expansion in its taxpayer base, with registered taxpayers increasing from 65 lakh in 2017 to more than 1.51 crore over an eight-year period.The fiscal year 2024-25 saw unprecedented gross goods and services tax collections of Rs 22.08 lakh crore, demonstrating a growth of 9.4 per cent compared to the previous financial year.The Goods and Services Tax implementation has seen robust revenue growth and expanded tax base. “Since its rollout, the goods and services tax has shown strong growth in revenue collection and tax base expansion. It has steadily strengthened India’s fiscal position and made indirect taxation more efficient and transparent,” according to an official government release marking eight years of GST.The collections stood at Rs 20.18 lakh crore in 2023-24 and Rs 18.08 lakh crore in 2022-23. The total gross GST collections in 2021-22 amounted to Rs 11.37 lakh crore, with monthly averages of Rs 95,000 crore.As GST approaches its eighth anniversary on July 1, 2015, it has consolidated approximately 17 local taxes and 13 cesses into a five-tier framework, creating a more straightforward taxation system. The monthly collections reached their peak at Rs 2.37 lakh crore in April 2025, followed by Rs 2.01 lakh crore in May 2025. The June figures are scheduled for release on Tuesday.
