NEW DELHI: The growth in monthly GST collection slowed down further in December, with gross revenue during the month registering a growth of 7.3% to Rs 1.77 lakh crore. In November, the gross revenue had increased by 8.5% to Rs 1.85 lakh crore.
In the current financial year, the gross monthly GST revenue grew at a double-digit rate only in three out of nine months.
During December, gross revenue from domestic transactions grew at 8.4% to Rs 1.32 lakh crore while those from imports grew at 3.9% to Rs 44,268 crore. Year-to-date, the gross revenue has increased by 9.1% to Rs 16.33 lakh crore.
Net GST collection (net of refunds) grew at an even slower pace of 3.3% to Rs 1.54 lakh crore in December. This is the slowest growth in net monthly GST revenue in the current financial year. In November, the net collection had grown at 11.1% to Rs 1.63 lakh crore. Refunds during December grew at 45.3%.
India’s recent GST collections have slowed down slightly, which is typical after the holiday season, says Saurabh Agarwal, tax partner, EY India, adding that it is well in line with expectations as we have been witnessing slight decrease in consumer spending over the past few months.
In the first nine months of FY25, the net goods and services tax collection stood at Rs 14.5 lakh crore. Of that, Rs 2.8 lakh crore has been collected under Central GST, Rs 3.5 lakh crore has been collected under State GST, and Rs 7.08 lakh crore has been collected under the Integrated GST. Net Cess collection in the April-December period was Rs 1.1 lakh crore.
Most large states showed low single-digit growth rate during the month. GST collection in UP and MP grew at 1% and Bihar at 2%. Gujarat revenue grew at 4% and West Bengal at 5%. Karnataka registered a growth of 7%, Rajasthan 8% and Maharashtra grew at 9%. However, Tamil Nadu at 11% and Telangana at 10% bucked the trend, and posted double-digit growth. Collections in Andhra Pradesh contracted by 6% during the month.