The GST Network (GSTN) released its report on Goods and Services Tax collections for February 2025 on March 1, 2025. This advisory indicated a total GST collection of Rs.1,83,646 crore for the month, which represents a decrease from January 2025's figure of Rs.1,95,506 crore. The official GST collection report can be accessed here.

Analysis of Goods and Services Tax Collections in February 2025

February 2025's GST collection showed a decline when compared to the preceding month. The monthly collection demonstrated a year-on-year (YoY) growth of merely 9.1%, a notable drop from the 12.3% YoY growth recorded in the prior month. For reference, the February 2024 collection stood at Rs.1,68,337 crore.

Key components contributing to the February revenue included CGST at Rs.35,204 crore, SGST at Rs.43,704 crore, IGST at Rs.90,870 crore, and Cess at Rs.13,868 crore. Domestic transactions exhibited a robust 10.2% YoY growth, while revenues from imports increased by 5.4%.

February 2025 GST Collections by State

The government also provided a state-wise breakdown of GST collections for February 2025. Maharashtra once again led all states in terms of absolute gross monthly revenue, followed by Karnataka, Gujarat, and Tamil Nadu.

The year-on-year growth rates for February 2025 varied significantly across states and Union Territories, ranging from a high of 32% (Andaman & Nicobar Islands) to a low of -46% (Ladakh). Major contributors to monthly revenue, such as Maharashtra and Karnataka, reported growth rates of 13% and 10% respectively, although these figures were lower compared to January 2025's performance.

State-wise Growth in GST Revenues for February 2025

| State/UT | Feb-24 | Feb-25 | Growth (%) ||---|---|---|---|| Jammu and Kashmir | 532 | 523 | -2% || Himachal Pradesh | 746 | 869 | 16% || Punjab | 1955 | 2125 | 9% || Chandigarh | 211 | 236 | 12% || Uttarakhand | 1525 | 1656 | 9% || Haryana | 8269 | 9925 | 20% || Delhi | 5544 | 6074 | 10% || Rajasthan | 4211 | 4787 | 14% || Uttar Pradesh | 8054 | 9155 | 14% || Bihar | 1491 | 1644 | 10% || Sikkim | 299 | 332 | 11% || Arunachal Pradesh | 101 | 102 | 1% || Nagaland | 51 | 56 | 9% || Manipur | 56 | 50 | -9% || Mizoram | 49 | 42 | -16% || Tripura | 85 | 103 | 21% || Meghalaya | 193 | 214 | 11% || Assam | 1390 | 1451 | 4% || West Bengal | 5357 | 5797 | 8% || Jharkhand | 2933 | 3319 | 13% || Odisha | 5136 | 5344 | 4% || Chhattisgarh | 3124 | 3351 | 7% || Madhya Pradesh | 3572 | 4090 | 15% || Gujarat | 11029 | 11402 | 3% || Dadra and Nagar Haveli and Daman & Diu | 355 | 386 | 8% || Maharashtra | 27065 | 30637 | 13% || Karnataka | 12815 | 14117 | 10% || Goa | 581 | 601 | 3% || Lakshadweep | 2 | 1 | -55% || Kerala | 2688 | 2894 | 8% || Tamil Nadu | 9713 | 10694 | 10% || Puducherry | 231 | 251 | 9% || Andaman and Nicobar Islands | 39 | 52 | 32% || Telangana | 5211 | 5280 | 1% || Andhra Pradesh | 3678 | 3817 | 4% || Ladakh | 35 | 19 | -46% || Other Territory | 201 | 214 | 5% || Center Jurisdiction | 232 | 336 | 45% |

Monthly Comparison of State-wise SGST Settlement: Pre and Post

The following table presents a state-wise overview of SGST figures for the 2024-25 fiscal year to date, both before and after settlement:

| State/UT | 2023-24 | 2024-25 | Growth | 2023-24 | 2024-25 * | Growth* ||---|---|---|---|---|---|---|| Jammu and Kashmir | 2680 | 2735 | 2% | 7415 | 7980 | 8% || Himachal Pradesh | 2371 | 2484 | 5% | 5138 | 5682 | 11% || Punjab | 7689 | 8440 | 10% | 20240 | 22721 | 12% || Chandigarh | 626 | 710 | 13% | 2117 | 2176 | 3% || Uttarakhand | 4934 | 5321 | 8% | 7708 | 8588 | 11% || Haryana | 18568 | 21274 | 15% | 31975 | 36542 | 14% || Delhi | 14235 | 16247 | 14% | 29187 | 33063 | 13% || Rajasthan | 15762 | 16688 | 6% | 35505 | 39971 | 13% || Uttar Pradesh | 29560 | 31638 | 7% | 69782 | 77295 | 11% || Bihar | 7478 | 8350 | 12% | 24231 | 26043 | 7% || Sikkim | 387 | 366 | -6% | 877 | 887 | 1% || Arunachal Pradesh | 548 | 484 | -12% | 1721 | 1634 | -5% || Nagaland | 270 | 260 | -4% | 955 | 976 | 2% || Manipur | 310 | 320 | 3% | 1011 | 1040 | 3% || Mizoram | 245 | 241 | -2% | 879 | 855 | -3% || Tripura | 455 | 494 | 9% | 1435 | 1567 | 9% || Meghalaya | 550 | 561 | 2% | 1557 | 1639 | 5% || Assam | 5413 | 5839 | 8% | 13347 | 14122 | 6% || West Bengal | 21407 | 21938 | 2% | 38335 | 42821 | 12% || Jharkhand | 7967 | 8021 | 1% | 11220 | 12868 | 15% || Odisha | 14796 | 16069 | 9% | 22636 | 23590 | 4% || Chhattisgarh | 7417 | 8040 | 8% | 12450 | 14329 | 15% || Madhya Pradesh | 11865 | 12614 | 6% | 30386 | 33120 | 9% || Gujarat | 38465 | 41294 | 7% | 58317 | 67007 | 15% || Dadra and Nagar Haveli and Daman & Diu | 599 | 677 | 13% | 1006 | 1161 | 15% || Maharashtra | 91584 | 102844 | 12% | 134593 | 156612 | 16% || Karnataka | 37305 | 41136 | 10% | 68428 | 75391 | 10% || Goa | 2137 | 2381 | 11% | 3752 | 4136 | 10% || Lakshadweep | 18 | 8 | -57% | 79 | 105 | 32% || Kerala | 12809 | 13620 | 6% | 28358 | 30041 | 6% || Tamil Nadu | 37024 | 41753 | 13% | 58904 | 69093 | 17% || Puducherry | 467 | 505 | 8% | 1255 | 1392 | 11% || Andaman and Nicobar Islands | 191 | 208 | 9% | 487 | 544 | 12% || Telangana | 18175 | 19470 | 7% | 36949 | 40340 | 9% || Andhra Pradesh | 12695 | 13088 | 3% | 28873 | 30286 | 5% || Ladakh | 230 | 254 | 11% | 620 | 700 | 13% || Other Territory | 218 | 187 | -14% | 1043 | 829 | -21% |

*Post-Settlement GST refers to the cumulative GST revenues of the States/UTs, plus the State GST portion of the IGST that has been settled to the respective States/UTs.

In conclusion, there has been consistent momentum in monthly GST collections, as detailed in the official report. Expectations are for March 2025 collections to reach a higher range, influenced by the financial year-end closure, which typically involves annual reconciliations and adjustments from taxpayers.