New Delhi, June 30 || 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 “a 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.