SBI expects record GST collection this November

Business Nov 19, 2025

SBI is predicting that GST revenue for November 2025 will cross ₹2 lakh crore—a big jump from last year's ₹1.82 lakh crore.
The boost comes mainly from higher IGST and cess collections on increased imports during the festive season, when spending typically spikes.

What's fueling the growth?

According to SBI's chief economic advisor Soumya Kanti Ghosh, India's economy is looking strong, with growth expected between 7.5% and 8% this quarter.
Recent GST rate cuts could help people save about 7% each month, and festive shopping has hit new highs—credit card spends soared to ₹7,328 crore on Diwali and car sales are up, especially in rural areas.