The government shared GST collection figures on Monday, which are going to give relief. If we look at government figures, the collection was Rs 1.86 lakh crore in the month of August, which is 6.5 percent more than the same period last year. Let us know that in August 2024 it was Rs 1.75 lakh crore. If we talk about last month, then in July 2025, the GST collection brought Rs 1.96 lakh crore to the treasury of the government.
According to the government data released on Monday, the impact of a loud surge in revenue, the gross GST collection in August increased to more than Rs 1.86 lakh crore due to the bounce in domestic revenue. Last month, this revenue increased by 9.6 percent to Rs 1.37 lakh crore, while the import duty declined by 1.2 percent to Rs 49,354 crore. If we look at the GST refund, it fell 20 percent to Rs 19,359 crore from year to year.
Record collection in April 2025: If we look at the most figures of GST collection so far, the government’s GST collection was Rs 2.37 lakh crore in the month of April this year. This was the highest collection ever since GST was implemented.
Significantly, this figure of strong GST collection has come at a time when GST Council meeting is going to be held after two days. In this, discussion is going to be discussed on reducing the number of tax slabs, rationalizing GST rates under GST improvement.
Preparation for changes in GST in the country: Prime Minister Narendra Modi announced the GST improvement of the next generation from the ramparts of the Red Fort on the occasion of Independence Day on August 15. He said in his address that the government is improving the GST of the next generation and this will reduce the tax burden on the common man. He hoped that it would be implemented before Diwali. The new GST system proposes to implement only two rates, 5% and 18%, to simplify the tax system.
Approval of GOM, Meeting on September 3-4 in New Delhi on August 20 and 21, the proposal of two tax slabs was approved and agreed to abolish 12% and 28% GST slab. The members involved approved the proposal of 5% and 18% GST slab. However, the government is expecting revenue loss of about Rs 40,000 crore from this GST reform. Now the 56th meeting of the GST Council is going to be held on 3 and 4 September, which will put the final seal on the issue.
