India monthly Goods and Services Tax (GST) collection has crossed the landmark ₹2 lakh crore milestone once again. Official data released by the Finance Ministry shows gross GST revenue surged by 14.7% year on year to reach ₹2,03,521 crore. This marks the third time this fiscal year that collections have passed the ₹2 lakh crore benchmark. Economic experts credit this big revenue jump to high festive spending, strong domestic consumption, and an impressive 25.9% increase in revenues from imported goods.
Domestic market activities also grew healthily by over 10%. After processing tax refunds, the net GST earnings grew by an impressive 18.1% to reach ₹1.76 lakh crore. Among Indian states, Maharashtra topped the charts by contributing ₹29,986 crore, registering a 15% growth compared to the same month last year.
Karnataka and Gujarat followed next as top contributors. Meanwhile, state collections in Assam jumped by a massive 88%. Overall, the total GST revenue collected during the first half of the current financial year has reached over ₹12.46 lakh crore, showing an 11.6% total growth. Officials believe this steady revenue growth reflects the underlying strength of the Indian economy and increasing business compliance across industries.
