JKB Financial Services Ltd.

As on : 23-Sep-2025

Economy - Reports
23-Sep-2025 17:14

GST collections have seen more than 200% growth since introduction

Since the introduction of GST in 2017-18, we have seen more than 200% growth in the revenues and more than 100% growth in the number of taxpayers who have been registered in the GST. Reform is an ongoing journey and there is definitely room for improvement. Our appetite for reform is still there, and we will continue to work further on how to make this GST experience better for all the stakeholders, noted to Shashank Priya, Special Secretary and Member (GST), CBIC, Ministry of Finance at the National Conclave on GST 2.0 organised by ASSOCHAM. Priya further said that from 1st November 2025, applicants declaring input tax credit passthrough in a month not exceeding Rs 2.5 lakh will be granted automated GST registration within three working days. And from October, 90% refund for exports will be given up front. The GST council has approved a broad framework to facilitate access of MSMEs to a larger market through e-commerce.

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