Categories: Gst Compliance

Overview on Gross & Net GST revenue collection for Mar 2025

Summary of insights: Gross and Net GST revenue collections for March 2025 

 

Analysis of GST Collections for March 2025

Overall Monthly Collection: The GST collection for March 2025 witnessed a notable rise, totaling INR 1,96,141 crore, reflecting a 9.9% year-on-year (YoY) growth over INR 1,78,484 crore collected in March 2024. This marks a stronger growth compared to the 9.1% YoY growth recorded in February 2025. Key Components—March 2025

  • CGST: INR 38,145 crore

  • SGST: INR 49,891 crore

  • IGST: INR 95,853 crore

  • Cess: INR 12,253 crore

While revenue from imports grew by 13.5%, domestic transactions registered a YoY growth of 8.8%, showing strong import-related collections.

State-wise GST Collections—March 2025

The government also released state-wise gross GST revenue data for March 2025.

Gross GST Revenue—March 2025

Component Mar 2024 (INR  Cr) Mar 2025 (INR Cr) YoY Growth
CGST 34,532 38,145
SGST 43,746 49,891
IGST (Total) 87,947 95,853
CESS 12,259 12,253
Total Gross GST INR 1,78,484 Cr INR 1,96,141 Cr 9.9%

Net GST Revenue – March 2025

Component Mar 2024 (INR Cr) Mar 2025 (INR Cr) YoY Growth
CGST 31,617 35,524
SGST 40,203 46,230
IGST (Total) 80,830 82,730
CESS 11,942 12,043
Total Net GST INR 1,64,592 Cr INR 1,76,526 Cr 7.3%

Full-Year Comparison (FY 2023–24 vs. 2024–25)

Component FY 2023–24 (INR Cr) FY 2024–25 (INR Cr) Growth (%)
Gross GST Revenue INR 20,18,249 INR 22,08,861 9.4%
Net GST Revenue INR 18,01,075 INR 19,56,034 8.6%

Refund Trends

  • Total Refunds (Mar-25): INR 19,615 Cr vs INR 13,892 Cr in Mar-24 (+41.2%).

  • Yearly Refunds: INR 2.52 lakh Cr in FY 24–25 vs  INR 2.17 lakh Cr in FY 23–24 (+16.4%).

Top States by Monthly Growth in GST Revenues—March 2025

 

State Growth YoY (%)
Tripura 32%
Center Jurisdiction 32%
Meghalaya 26%
Andaman & Nicobar Islands 60%
Bihar 30%

States with Negative Growth

State Growth YoY (%)
Manipur -18%
Mizoram -8%
Himachal Pradesh -3%
Jammu & Kashmir -1%

Top States by Absolute Revenue:

  1. Maharashtra – ₹31,534 crore

  2. Karnataka – ₹13,497 crore

  3. Gujarat – ₹12,095 crore

  4. Tamil Nadu – ₹11,795 crore

These states continue to be the backbone of India’s monthly GST revenue.

States with Over 20% Growth:

Several states and UTs showed exceptional growth (YoY over 20%), including:

  • Andaman & Nicobar Islands – 60%

  • Tripura – 32%

  • Bihar – 30%

  • Lakshadweep – 27%

  • Meghalaya – 26%

  • Goa – 20%

These figures reflect improved compliance, economic activity, or base effect gains.

Key State Highlights:

  • Maharashtra saw a 14% growth, maintaining its lead as the highest revenue generator.

  • Karnataka, another major contributor, posted a 4% growth over the previous year.

Noteworthy Points

  • IGST from imports grew from INR 40,322 Cr (Mar 2024) to INR 45,782 Cr (Mar 2025).

  • Export Refunds surged by 201.9%, from INR 2,679 Cr to INR 8,089 Cr in March alone.

  • The Net Domestic GST Revenue rose 9.3%, while Net Revenue from Customs (GST) saw a modest rise of 0.5%.

GST Revenue Update – May 2025

  • The gross Goods and Services Tax revenue collection for the month of May 2025 stood at ₹2.01 lakh crore. After accounting for refunds, the net GST revenue for the month is approximately ₹1.74 lakh crore. The Ministry of Finance continues to monitor the trends closely to ensure stable revenue mobilisation and compliance across sectors.
  • Month-on-Month Comparison: This month’s gross GST collection is lower compared to the April 2025 collection, which was around ₹1.92 lakh crore. The dip may be attributed to various cyclical and compliance-related factors. Gross Collection: ₹2.01 lakh crore Net Collection (post-refund): ₹1.74 lakh crore Previous Month (April 2025): ₹1.92 lakh crore (gross)
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