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India Charts GST 2.0 After Eight Years With Record ₹22.08 Lakh Crore Revenue

Policymakers are moving into a GST 2.0 phase to broaden coverage.

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Big GST relief likely as government considers rate cut on common goods: Sources

Overview

  • GST collections rose 9.4% year-on-year to a record ₹22.08 lakh crore in FY 2024–25, averaging ₹1.84 lakh crore per month.
  • Active GST registrations surpassed 1.51 crore by April 30, 2025, expanding the formal tax base to include more small traders, start-ups and online sellers.
  • Digital compliance measures such as the GST portal, QRMP scheme, e-invoicing and e-way bills have streamlined filing, input-credit tracking and tax payments.
  • The GST Council, comprising Union and state finance ministers, has overseen periodic rate rationalizations and will phase out the compensation cess by 2026.
  • Next-phase GST 2.0 proposals aim to incorporate petroleum and electricity into the regime, simplify the rate structure and strengthen dispute resolution mechanisms.