GST Collections Soar By 9.1% To Rs 1.84 Lakh Crore In February 2025

India's Goods and Services Tax (GST) collections continued their robust performance, registering a significant 9.1% year-on-year growth to reach approximately Rs 1.84 lakh crore in February 2025, according to official data released on Saturday, March 1.

Domestic and Import Revenue Growth

The impressive GST collection figures reveal a strong performance across multiple revenue streams:

• Domestic revenue jumped by 10.2% to Rs 1.42 lakh crore
• Import revenue increased by 5.4% to Rs 41,702 crore

This growth pattern suggests continued strength in domestic economic activity alongside a moderate increase in import-related transactions during February.

Component-Wise GST Collections

Breaking down the gross GST collections for February 2025, the data reveals the following component-wise contributions:

• Central GST (CGST): Rs 35,204 crore
• State GST (SGST): Rs 43,704 crore
• Integrated GST (IGST): Rs 90,870 crore
• Compensation Cess: Rs 13,868 crore

The distribution across CGST, SGST, and IGST components indicates a balanced revenue collection pattern across central and state jurisdictions.

Net Collections and Refunds

After accounting for refunds, the net GST collections for February 2025 stood at Rs 1.63 lakh crore, representing an 8.1% growth compared to the same period last year.

Notably, the total refunds issued during February 2025 amounted to Rs 20,889 crore, marking a significant 17.3% increase over the refunds issued in February 2024. This substantial rise in refunds demonstrates the government's commitment to timely processing of taxpayer refund claims.

Year-on-Year Comparison

When compared to February 2024 figures, the current GST collections show positive momentum:

• February 2024 Gross GST: Rs 1.68 lakh crore
• February 2025 Gross GST: Rs 1.84 lakh crore (9.1% increase)
• February 2024 Net GST: Rs 1.50 lakh crore
• February 2025 Net GST: Rs 1.63 lakh crore (8.1% increase)

Economic Implications

The consistently improving GST collections serve as a positive indicator of economic activity and tax compliance in India. The 10.2% growth in domestic revenue is particularly noteworthy as it suggests strengthening internal consumption and business activities.

While import-related GST growth was more modest at 5.4%, it still indicates continued international trade momentum despite global economic uncertainties.

GST Revenue Trends

February's robust collection continues the trend of strong GST performance in the current fiscal year. The higher-than-expected growth in both gross and net collections reflects improving tax compliance, expansion of the formal economy, and effectiveness of anti-evasion measures implemented by tax authorities.

The sustained double-digit growth in domestic GST revenue is especially encouraging for economic observers as it points to resilient internal demand and business activity despite external challenges.

Future Outlook

With just one month remaining in the current fiscal year, the strong February GST collections position the government favorably to meet or potentially exceed its annual revenue targets. The consistent growth in GST collections provides fiscal headroom for the government while indicating underlying economic strength.

Financial analysts will be closely monitoring the March figures to assess the full-year GST performance and its implications for India's overall fiscal health in the coming fiscal year.

Disclaimer: The views and investment tips expressed in this article are for informational purposes only and do not represent financial advice. The views expressed are those of the sources cited and not necessarily those of this website or its management. Investing in equities or other financial instruments carries the risk of financial loss. Readers must exercise due caution and conduct their own research before making any investment decisions. We are not liable for any losses incurred as a result of decisions made based on this article. Please consult a qualified financial advisor before making any investment.

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Tuhin Kanta Pandey Takes Charge as SEBI's 11th Chairman: Pledges Four-Pillar Vision

Tuhin Kanta Pandey Takes Charge as SEBI's 11th Chairman: Pledges Trust, Transparency, Teamwork, and Technology

In a significant leadership transition for India's capital markets, Tuhin Kanta Pandey has assumed charge as the 11th Chairman of the Securities and Exchange Board of India (SEBI) on Saturday, March 1, 2025. The veteran IAS officer, who previously served as Finance and Revenue Secretary, steps into this crucial regulatory role following the end of Madhabi Puri Buch's three-year tenure.

A Seamless Transition at SEBI Headquarters

Dressed in a dark blue blazer and striped shirt, Pandey arrived at the SEBI headquarters in Mumbai's Bandra Kurla Complex on Saturday afternoon. He received a warm welcome from all four SEBI whole-time members - Ashwani Bhatia, Amarjeet Singh, Ananth Narayan, and Kamlesh Varshney. The outgoing chairperson, Madhabi Puri Buch, was reportedly unwell and could not be present during the handover ceremony.

Four Pillars of Leadership: Pandey's Vision for SEBI

Addressing media representatives shortly after taking charge, Pandey outlined four key objectives that will guide SEBI under his leadership:

• Trust - Maintaining the confidence of investors, the government, Parliament, and industry stakeholders
• Transparency - Ensuring clear, open processes in market regulation
• Teamwork - Fostering collaboration within SEBI and with market participants
• Technology - Leveraging digital innovation to enhance market efficiency and oversight

"SEBI is a very robust market institution. It has been built over the years with successive leadership and will continue with it," Pandey remarked, acknowledging the regulatory body's strong foundation.

He emphasized the importance of trust in his inaugural address, stating: "We hold the trust of the people of India. We hold the trust of the Parliament of India. We hold the trust of the government, we hold the trust of the investors, and we hold the trust of the industry. Trust is very important and we'll all look forward."

A Career Bureaucrat Takes the Regulatory Helm

The government announced Pandey's appointment as SEBI Chairman on Thursday, selecting the career bureaucrat to lead India's premier market regulator. His appointment comes at a pivotal moment for Indian capital markets, which have experienced significant volatility in recent weeks, including Friday's steep decline that saw FIIs sell shares worth Rs 11,639 crore.

Pandey brings extensive experience in finance and economic policy to his new role, having previously served as the Finance Secretary in the Ministry of Finance. His background is expected to be valuable in navigating the complex challenges facing India's evolving securities markets.

Critical Timing for Market Oversight

Pandey's appointment comes at a crucial juncture for SEBI, the regulatory body responsible for overseeing India's securities and capital markets. As SEBI Chairman, he will play a key role in:

• Strengthening market regulations to ensure fair and efficient trading
• Enhancing investor protection mechanisms
• Overseeing important reforms in India's capital markets
• Addressing emerging challenges in financial technology and market innovation

Under Buch's leadership, SEBI implemented several significant developments aimed at improving market transparency and investor protection. Market participants will be watching closely to see how Pandey builds upon these initiatives while potentially introducing new regulatory approaches.

Building on SEBI's Legacy

Pandey's commitment to continuing SEBI's institutional strength suggests a policy of regulatory continuity while potentially introducing new priorities. His emphasis on technology aligns with India's broader push toward digital transformation in the financial sector.

With his extensive administrative experience and focus on the four key pillars of trust, transparency, teamwork, and technology, Pandey aims to further strengthen SEBI's position as one of the world's leading market regulatory institutions.

Disclaimer: The views and investment tips expressed in this article are for informational purposes only and do not represent financial advice. The views expressed are those of the sources cited and not necessarily those of this website or its management. Investing in equities or other financial instruments carries the risk of financial loss. Readers must exercise due caution and conduct their own research before making any investment decisions. We are not liable for any losses incurred as a result of decisions made based on this article. Please consult a qualified financial advisor before making any investment.

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