India Sees Second-Highest GST Collections At Over Rs 1.96 Lakh Crore In March

Revenue from domestic transactions grew by 8.8 per cent to Rs 1.49 lakh crore, while collections from imported goods saw a 13.56 per cent rise, amounting to Rs 46,919 crore.

The highest-ever GST collection was recorded in April 2024, amounting to Rs 2.10 lakh crore.

Source : Okcredit

India’s Gross GST collection witnessed a 9.9 per cent jump in March, reaching over Rs 1.96 lakh crore, marking the second-highest monthly revenue on record, according to official data released on Tuesday.

The increase was driven by strong domestic transactions and higher revenue from imports. Revenue from domestic transactions grew by 8.8 per cent to Rs 1.49 lakh crore, while collections from imported goods saw a 13.56 per cent rise, amounting to Rs 46,919 crore, reported PTI.

The gross GST collection comprised Rs 38,145 crore from Central GST (CGST), Rs 49,891 crore from State GST (SGST), and Rs 95,853 crore from Integrated GST (IGST). Additionally, cess revenue stood at Rs 12,253 crore for the month.

Refund Adjustments

Total refunds issued in March surged by 41 per cent to Rs 19,615 crore. After accounting for refunds, net GST revenue for the month stood at over Rs 1.76 lakh crore, reflecting a 7.3 per cent increase from the corresponding period last year. The highest-ever GST collection was recorded in April 2024, amounting to Rs 2.10 lakh crore.

Deloitte India Partner MS Mani attributed the 9.9 per cent growth in gross GST revenue to businesses pushing sales at the fiscal year-end. “It is very encouraging to see that this is not an isolated instance, as GST collections have shown a steady increase every month, reflected by the 9.4 per cent increase in annual Gross GST collections,” Mani stated.

State-Wise Growth In GST Collections

For the financial year April 2024-March 2025, the total GST collection stood at Rs 22.08 lakh crore, representing a 9.4 per cent year-on-year growth. However, the growth rates varied significantly across states.

Maharashtra, Haryana, Uttar Pradesh, and Rajasthan saw an increase exceeding 10 per cent, while Gujarat, Karnataka, Telangana, Andhra Pradesh, and Tamil Nadu recorded growth rates ranging from -1 per cent to 7 per cent—an unusual trend for March. “There is a need to understand the reasons for this variation by analyzing sectoral growth and compliance trends in these states,” Mani added.

KPMG in India Partner and Head of Indirect Tax, Abhishek Jain, highlighted that the nearly 10 per cent growth in GST revenue reflects both economic stability and enhanced tax compliance by businesses. “With fiscal year-end adjustments and reconciliations underway, we can expect a further surge in month-on-month collections in the upcoming period,” Jain noted.