In the last month of the financial year, the GST collection increased by 9.9 percent to Rs. 1.96 lakh crore has been reached. This information was provided in the government figures released on Tuesday. GST revenue from domestic transactions increased by 8.8 percent to Rs. 1.49 lakh crore, while revenue from imported goods increased by 13.56 per cent to Rs. 46,919 crore. During March, the total refund increased by 41 percent to Rs. 19,615 crore. Net GST income after the refund adjustment in March 2025 was Rs. 1.76 lakh crore, which is 7.3 percent more than the same month a year ago.
GST earned so much in FY 2025
The government also made good money from GST in February, in February, the government received Rs 1.84 lakh crore from the GST collection. If we talk about January, this month the government received Rs 1.96 lakh crore in the GST collection. If we talk about the GST collection between April 1, 2024 and March 31, 2025, the government has grossed Rs 21.72 lakh crore.
New GST rules will be applicable from April 1
Previously, businesses had two options for allocating general ITC to their other GST registrations. There were two options-the ISD mechanism or cross-charge method, but now from April 1, 2025, if ISD is not used, ITC will not be provided for the recipient location. If ITC is distributed incorrectly, the tax authority charges the amount with interest. In addition, penalties will also be imposed for irregular distribution, which is the amount of ITC or Rs. Will be more than 10 thousand.
GST system
It is believed that this change is another big step towards making the GST system more adjustable. The ISD system will not only distribute tax income between states but also help businesses better manage their tax responsibilities. This step will be very beneficial in preventing tax evasion and transparency in the system.
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