India’s Goods and Services Tax (GST) collections for January 2025 soared to ₹1.96 lakh crore, marking a 12.3% year-on-year (YoY) increase from the same month last year. The announcement, made on February 1, underscores strong economic activity despite global headwinds and domestic uncertainties.
In December 2024, GST collections stood at ₹1,76,857 crore, recording a 7.3% YoY growth compared to ₹1,66,882 crore in December 2023. However, on a month-on-month basis, January’s collections represented a 2.97% increase, breaking the streak of slight declines observed in the last three months.
GST Collection Trend Overview:
- January 2025: ₹1.96 lakh crore (up 12.3% YoY)
- December 2024: ₹1,76,857 crore (up 7.3% YoY)
- November 2024: ₹1,82,269 crore
- October 2024: ₹1,87,346 crore
- September 2024: ₹1,73,240 crore
The year-to-date (YTD) GST collections for the fiscal year now total ₹16.33 lakh crore, reflecting a 9.10% YoY increase over the same period last year. Despite robust YoY growth, collections remain 18.98% short of the total projected target for FY24
