Business News | GST Collections Rise 6.1% to Rs 1.75 Lakh Crore in December
Get latest articles and stories on Business at LatestLY. The Goods and Services Tax (GST) collections in December, in gross terms, rose 6.1 per cent to about 1.74 lakh crore compared to about 1.64 lakh crore in the same month last year, according to official data released Thursday.
New Delhi [India], January 1 (ANI): The Goods and Services Tax (GST) collections in December, in gross terms, rose 6.1 per cent to about 1.75 lakh crore compared to about 1.64 lakh crore in the same month last year, according to official data released Thursday.
In the month of December, collections of Central-GST and State-GST rose while Integrated-GST declined year-on-year, official data showed.
So far in 2025-26 (April-December), gross GST collections rose 8.6 per cent to about Rs 16.5 lakh crore, compared with Rs 15.2 lakh crore in the same period last fiscal.
In this case also, all components - CGST, SGST, IGST- rose.
India's Goods and Services Tax (GST) system achieved a significant milestone in 2024-25, with a record gross collection of Rs 22.08 lakh crore, up 9.4 per cent from the previous year.
India's Goods and Services Tax (GST) system achieved a significant milestone in 2024-25, with a record gross collection of Rs 22.08 lakh crore, up 9.4 per cent from the previous year.
The average monthly GST collection stood at Rs 1.84 lakh crore, the highest since GST was launched in 2017.GST collections have steadily increased over the years, rising from Rs 11.37 lakh crore in 2020-21 to Rs 20.18 lakh crore in 2023-24, reflecting stronger economic activity and better compliance.
The recent GST collections reflect a positive trajectory for India's economy. The GST Council, established under the Constitution to guide GST policy, has played a key role in shaping the system. The Union Finance Minister chairs it and includes state finance ministers and other key officials.
Since its formation in 2016, the Council has held 55 meetings and made many important decisions to simplify and make the GST system more business-friendly.
On September 3, 2025, sweeping changes were made under the next-generation GST (Goods and Services Tax) rationalisation, just days after Prime Minister Narendra Modi announced it from the ramparts of the Red Fort on Independence Day. In a historic move to simplify the Goods and Services Tax(GST), GST Council in its 56th meeting had reduced the GST structure from four slabs (5%, 12%, 18%, 28%) to two main rates--5% (merit rate) and 18% (standard rate) along with a 40% special rate for sin/luxury goods.
This was aimed at reducing the tax burden on citizens while stimulating economic growth. On September 22, the first day of Navratri, all changes to GST rates took effect. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)