GST collections exceed ₹2 trillion in May.

• Gross Goods and Services Tax (GST) collections in India rose 16.4% in May to over ₹2.01 lakh crore.

• Gross revenues from domestic transactions rose 13.7% to about ₹1.5 lakh crore.

• GST revenue from imports grew 25.2% to ₹51,266 crore.

• Total gross GST revenues stood at ₹2,01,050 crore in May 2025.

• Gross Central GST revenues stood at ₹35,434 crore, State GST revenues at ₹43,902 crore, and Integrated GST at about ₹1.09 lakh crore.

• Total refunds issued during the month dipped 4% to ₹27,210 crore.

• Net GST mop-up in May stood at ₹1.74 lakh crore, a 20.4% year-on-year growth.

• Variations in GST collection growth across states require a thorough analysis.

• The 16% growth in GST collections in the month shows renewed upward momentum after a few months of growth in the range of 11% to 12%.

• The growth in GST revenue is clear to be import-driven, with an approximate 10% growth in domestic GST revenues and 73% growth in import GST revenues.