April's Net GST Kitty at Fresh High of ₹2.09 Trillion

Net receipt from FY25 transactions increases 8%

- MONIKA YADAV

India's net goods and services tax (GST) receipts grew 9.1 per cent in April to hit a fresh monthly record of over ₹2.09 trillion, making a significant improvement over the mild 7.3 per cent uptick in revenues this March, despite a 40 per cent sequential surge in refunds.

April's gross GST revenues, based on transactions done in March, rose 12.6 per cent to almost ₹2.37 trillion, with the collection from domestic transactions up 10.7 per cent and import revenues rising by a sharper 20.8 per cent.

Apart from financial year-end compliances and production targets, taxation experts attributed some of the rise in import revenues and refunds to exporters' rush to beat the US' impending 'Liberation Day' trade tariff plans.

Business Standard calculations, based on the provisional GST tally released on Thursday, peg the growth in net GST revenues from transactions concluded in 2024-25 at a tad over 8 per cent, with gross receipts rising 9.5 per cent.