GST completes 8 years with record Rs 22 lakh crore collection in FY25

The Goods and Services Tax (GST), widely hailed as one of the biggest economic reforms in post-Independence India, will on Tuesday complete eight years of its success story, with collections soaring to a record Rs 22.08 lakh crore in 2024-25, marking a year-on-year growth of 9.4 per cent, with the number of taxpayers in its ambit surging past 1.51 crore.

Prime Minister Narendra Modi had called GST path-breaking legislation for New India at its launch on July 1, 2017. Eight years on, the numbers



speak for themselves, reflecting India’ s strong fiscal position.

The average monthly collection stood at Rs 1.84 lakh crore in 2024-25, a blockbuster year. In 2020-21, the total collection was Rs 11.37 lakh crore, with a monthly average of Rs 95,000 crore.

The following year, it rose to Rs 14.83 lakh crore, and then to Rs 18.08 lakh crore in 2022-23. In 2023-24, GST collections reached Rs 20.18 lakh crore, showing consistent growth in compliance and economic activity.