- GST is a major economic reform in India, launched in 2017 to unify indirect taxes.
- GST collections reached ₹22.08 lakh crore in FY25, tripling since FY18.
- April 2025 saw the highest monthly GST collection of ₹2.37 lakh crore.
- Taxpayer registrations doubled from 78 lakh in 2017 to 1.52 crore by May 2025.
- Over 162 crore GST returns filed in eight years, showing digital integration.
- GST’s digital system includes e-invoicing, e-way bills, and automated returns.
- Compliance costs reduced; small taxpayers file quarterly returns.
- MSMEs benefit from higher exemption limits and better credit access.
- TReDS platform helps MSMEs with working capital through invoice auctions.
- Removal of inter-state check posts improved logistics and transport efficiency.
- India’s Logistics Performance Index rank improved from 44 to 38.
- GST contributed to India’s rise in Ease of Doing Business rankings.
- Research shows a strong correlation between GST revenue growth and GDP expansion.
Source: a2ztaxcorp.net
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
