Gross GST collections for October 2025 reached ₹1,95,936 crore, marking a 4.6% year-on-year increase compared to October 2024, driven by strong festive spending. Domestic revenue grew by 2%, and imports rose by 12.9%, with net GST revenue (after refunds) at ₹1,69,002 crore.
For October 2025, the gross GST collections touched ₹1,95,936 crore, marking a 4.6% year-on-year growth compared to October 2024. This figure demonstrates that despite ongoing rate rationalisation and global economic fluctuations, India's domestic demand and compliance systems continue to strengthen.
GST Reforms 2025: Key Changes in GST Rates Across Categories
Key categories have seen rate reductions: daily essentials have dropped from 12%/18% to 5%, agricultural equipment from 12%/18% to 5%, healthcare services to 5% or exempt, and education services are now fully tax-exempt.
GST collections rise 4.6% in October 2025 to ₹1.96 lakh crore, driven by festive demand and recent rate rationalisation; yearly #GST revenue up 7.8% amid strong domestic and import growth.
For any standard-rated supplies of goods or services that you make on or after 1 Jan 2024, you must charge GST at 9%. For instance, if you issue an invoice and receive payments for your supply on or after 1 Jan 2024, you must account for GST at 9%.
If the CRA determines that you are eligible for the GST/HST credit based on your 2024 tax return and that you will receive payments, you will receive a GST/HST credit notice in July 2025. It will show how much you will get and what information was used to calculate the amount.
How to Avoid GST on Overseas Purchases Legally
How much will I receive in October 2025? It depends on your 2024 adjusted family net income, marital status, and number of children. Maximum amounts are $533 (singles), $698 (couples), and $184 per child.
The 2024-25 fiscal year recorded the highest-ever gross goods and services tax collections at Rs 22.08 lakh crore, registering a 9.4 per cent increase compared to the preceding financial year.
GST Rate and Slab Changes in September 2025
90% of items in the current 28% slab are moved to the 18% slab. Almost 99% of the items in the 12% slab are moved to the 5% slab.
Effective October 2025 period onwards, a new section for "Import of Goods" has been introduced in IMS wherein the Bill of Entry (BoE) filed by the taxpayer for import of goods including import from SEZ, will be made available in the IMS for taking allowed action on individual BoE.
2022, Works contract services provided to Central and State Government, or Local Authorities, which were earlier eligible for concessional rate of 12% GST,would attract GST at the rate of 18% in view of amendment carried out in notification No. 11/2017- Central Tax (Rate) vide notification No.
Goods and Services Tax (GST) 2.0 reform, which came into effect from September 22nd, 2025, brought relief for the common people and boosts for businesses. One of the key GST updates under 2.0 reform is that it simplified the GST tax structure from a 4-slab (5%, 12%, 18% and 28%) to a 3-slab (5%, 18% and 40%).
The Government: A Boost in Revenue
From a government standpoint, GST has been a resounding success in terms of revenue generation and increase in tax base. The number of Taxpayers is increasing from year to year and the same thing can be said about the collection of GST.
Reliance Industries has consistently been the highest taxpayer company in India, contributing billions of rupees annually.
If your overall GST/HST credit for 2025 amounts to less than $50 per quarter, the Canada Revenue Agency (CRA) will provide you with a one-time payment on July 3.
If you are eligible for the 2025 GST Voucher (GSTV) – Cash and/or GSTV – MediSave and have signed up for a previous Government payout (e.g., 2024 GSTV), you will automatically receive your 2025 GSTV – Cash and/or GSTV – MediSave in August 2025. No further action is required on your part.
The rollout of new GST 2.0 rates from September 22, 2025, marks a turning point in India's tax journey. By simplifying the system into 5%, 18%, and 40% slabs, the government has addressed one of the biggest criticisms of the original GST—complexity.
The GST/HST credit payment period begins in July and ends in June of the following year: January and April payments. Based on your adjusted family net income from your 2024 tax return. July and October payments.
When to expect your refund. You can claim a refund if your net tax (line 109 of your GST/HST return) is a negative amount. We normally issue refunds within 4 weeks of receiving your return.
In order to qualify for this, you have to have worked in 2023 and had an income below $150,000. You also qualify if you received Employment Insurance, paid EI premiums or made CPP contributions. You should receive this via cheque or direct deposit by April 2025.
Its is easy to calculate Singaporean GST at 9% rate:
In a word, yes. Declaring luxury goods to US Customs is always a good idea. All of your purchases abroad are subject to declaration by US Customs, and luxury goods have the highest likelihood of being inspected.
The total of lifetime gifts and the estate are eligible for a lifetime exemption, which is set at $13.99 million in 2025. The exemption amount is indexed for inflation, and was scheduled to be reduced by half after 2025. The higher exemption level was made permanent and slightly increased to $15 million in 2026 by P.L.