April 2025 GST Collection Hits Record ₹2.37 Lakh Crore
Why in the news
April 2025 set a new high for monthly GST receipts, and the data came alongside a strong manufacturing and export reading.
Key facts
| Indicator | April 2025 figure |
|---|---|
| Gross GST | ₹2.37 lakh crore (+12.6% YoY) |
| Net GST after refunds | ₹2.09 lakh crore (+9.1%) |
| GST refunds | Up 86%, mostly exporters |
| GST on imports | Up 20.8% |
| HSBC India Manufacturing PMI | 58.2 (58.1 in March), 10-month high |
- April collections have more than doubled since GST began in 2017, from ₹1.03 lakh crore.
- Drivers named: year-end filings, better MSME compliance, fintech adoption (87%) and quicker refunds.
- PMI showed strong new orders and the highest foreign demand in over 14 years.
Global trade angle
- Export orders were boosted partly by the July 9 end date of a 90-day US tariff pause.
- Tougher US tariffs on Chinese goods encourage supply chain diversification; India benefits from reshoring and near-shoring, with Apple making most US-bound iPhones in India.
Concerns
- India’s manufacturing grew only 4% in FY25, a four-year low, so the export surge may be short-lived.
- Lasting growth needs stronger domestic demand, favourable FTA terms and policy incentives.
Exam angle
- GST began in 2017.
- PMI above 50 signals expansion.
- Record April gross GST: ₹2.37 lakh crore.