India’s gross Goods and Services Tax (GST) collections grow 15.4% year-on-year in July, reaching more than ₹2.11 lakh crore, according to data cited by multiple outlets. The increase is attributed mainly to higher collections from imports and also to stronger domestic revenues. Domestic GST revenue rises by about 10%—reported as around ₹1.44–₹1.45 lakh crore—signaling improved consumption. Import-related GST collections climb sharply, with figures reported at ₹66,511 crore, reflecting growth of roughly 29% to 28.8%. Several reports also note that July’s performance continues a recent rebound seen in June, when GST revenues grew. Refund activity remains at a healthy level: refunds issued in July total ₹29,968 crore, and net GST revenue after refunds is reported at around ₹1.81 lakh crore. On a cumulative basis for April to July, gross GST collections are reported to be higher than the same period last year, indicating sustained strength in indirect tax receipts during the early part of the financial year.
GST collections rise 15.4% to over ₹2.11 lakh crore in July
India’s gross Goods and Services Tax (GST) collections grow 15.4% year-on-year in July, reaching more than ₹2.11 lakh crore, according to data cited by multiple outlets. The increase is attributed mai...
- Gross GST collections in July rise 15.4% year-on-year to over ₹2.11 lakh crore.
- Domestic GST revenue increases by about 10% to roughly ₹1.44–₹1.45 lakh crore.
- GST collections from imports surge to ₹66,511 crore, up about 28.8–29% year-on-year.
- Refunds issued in July total ₹29,968 crore, and net GST collections after refunds are reported at about ₹1.81 lakh crore.
- Reports cite stronger momentum following June, when GST collections also increased year-on-year.
Tax collection from domestic transactions grew 10.1% to more than ₹1.44 lakh crore, while gross revenues from imports were up 29% to ₹66,511 crore
55 minutes agoAccording to data made public on GST portal, collection from domestic sources rose over 10% to around ₹1.45 lakh crore reflecting consumption picking up
2 hours agoGross Goods and Services Tax (GST) collections witnessed strong growth in July, rising 15.4% year-on-year to ₹2.11 lakh crore. The increase marked the highest growth rate in 14 months and represented only the second time this financial year that monthly GST collections crossed the ₹2 lakh crore mark.The rise was supported mainly by a sharp increase in GST collections from imports, which climbed 28.8% to ₹66,511 crore during the month. Domestic GST revenue also recorded healthy growth, increasing 10.1% to ₹1.45 lakh crore, indicating continued momentum in economic activity and consumer demand.July’s performance followed a strong recovery in June, when GST revenues grew 13.9% to ₹1.95 lakh crore. The July growth rate was the highest since May 2025, when collections had increased 16.4% compared with the previous year. Import Surge Drives 13.9% Growth In GST Collections In June To ₹1.95 Lakh CroreGST collections had crossed the ₹2 lakh crore level for the first time in the current financial year in April, reaching a record ₹2.43 lakh crore. The surge in April was supported by year-end business transactions and annual return filings. Collections later moderated to ₹1.94 lakh crore in May before rising again to ₹1.95 lakh crore in June.After adjusting for refunds, net GST collections in July stood at ₹1.81 lakh crore, registering a 15.8% increase compared with the same period last year. Refunds issued during the month rose 13.1% to ₹29,968 crore.Rajasthan Footwear Artisan Gets ₹6.78 Crore GST Notice, Fake Export Firm Allegedly Registered Using His PAN The increase in net customs GST revenue was particularly notable, rising 30.3%, reflecting stronger tax collections from imported goods.On a cumulative basis, gross GST collections during the April-July period of financial year 2026-27 increased 10.1% to ₹8.43 lakh crore compared with ₹7.66 lakh crore during the same period last year.Net GST revenue during the first four months of the financial year also recorded growth, rising 9.2% to ₹7.21 lakh crore.The latest figures indicate sustained strength in tax collections, supported by domestic consumption trends and higher import activity. The continued rise in GST revenues is expected to provide further support to government finances while reflecting the broader pace of economic activity.4. Keywords
2 hours agoGross GST collections in July rose 15.4% to over Rs 2.11 lakh crore, driven by increased revenues from domestic transactions and imports.
3 hours agoIndia's gross Goods and Services Tax collections reached over Rs 2.11 lakh crore in July. This represents a significant 15.4 percent increase compared to the previous year. Higher revenues from both domestic transactions and imports contributed to this strong performance. The government also maintained a healthy pace of refunds, totaling Rs 29,968 crore. Net GST revenue after refunds remained robust, indicating sustained growth in the indirect tax base.
3 hours ago
US makes $20,000 visa bond program permanent for 50 countries
The US State Department has made its visa bond programme permanent, according to reports. Under the policy, consular off...
RBI concessional forex swap facility attracts $20.72 billion, driven by FCNR(B) deposits
The Reserve Bank of India (RBI) reports that its concessional swap facility has attracted significant foreign exchange i...
Modi inaugurates Bhogapuram’s Alluri Sitarama Raju International Airport in Andhra Pradesh
Prime Minister Narendra Modi inaugurates the Alluri Sitarama Raju International Airport at Bhogapuram in Andhra Pradesh....