January's GST collections stand at ₹1.72L crore, second-highest ever
What's the story
India's Goods and Services Tax (GST) collections for January 2025 have hit ₹1.72 lakh crore, according to provisional data from the Ministry of Finance.
The figure marks the second-highest monthly collection ever recorded, exceeding December 2023's total by around 4.4%.
The Finance Ministry expects the final tally for this month to be even higher than this preliminary figure.
Annual comparison
January's collection shows significant annual growth
Compared to the same period last year, January's GST collection marks a significant jump.
The provisional figure for this month is 10.4% higher than the ₹1.56 lakh crore collected by 5:00pm on January 31, 2023.
Compared to January 2023's final figure of ₹1.58 lakh crore, the current collection is up by an impressive 9.3%.
Growth trend
Consistent growth in monthly GST collections
The Finance Ministry emphasized that this marks the 11th straight month where monthly GST collections have crossed the ₹1.5 lakh crore threshold.
Since its introduction in 2017-18, monthly GST collections have steadily increased from an average of under ₹1 lakh crore/month to ₹1.51 lakh crore in 2022-23, after recovering from the pandemic-induced economic slump.
Settlement details
Government settles ₹80,809cr in GST for January
The government has settled ₹43,552 crore to Central GST and ₹37,257 crore to State GST from the Integrated GST collected so far in January.
However, the Finance Ministry did not provide final figures for Central GST, State GST or the cess collected.
The total gross GST collection during April 2023-January 2024 period saw an 11.6% year-on-year growth reaching ₹16.69 lakh crore.