GST collections rise 7.3% to ₹1.77 lakh crore in Dec

Growth slows to a single digit as Q2 GDP expands at a seven-quarter low

- Rajeev Jayaswal

NEW DELHI: Gross Goods and Services Tax (GST) revenue in December neared ₹1.77 lakh crore, posting a single-digit year-on-year increase of 7.3%, according to official data released on Wednesday, which experts link with the slowdown in the gross domestic product (GDP) growth rate in the second quarter of FY25.

Net GST collections in December—which reflect actual business transactions made in November—could barely manage a 3.3% y-o-y growth at ₹1,54,366 crore with a 45.3% jump in refunds at ₹22,490 crore as compared to ₹15,473 crore refunded in the same month of 2023.