Continuing a robust trend, India’s gross goods and services tax (GST) collections surged 15.4 per cent (year-on-year) to INR 2.11 lakh crore in July — fastest in 14 months, the government data showed on Saturday.
NEW DELHI — Continuing a robust trend, India’s gross goods and services tax (GST) collections surged 15.4 per cent (year-on-year) to INR 2.11 lakh crore in July — fastest in 14 months, the government data showed on Saturday.
This is the second time this fiscal (FY27) that monthly collections have crossed the INR 2 lakh crore mark, driven by strong domestic consumption and business activity.
Meanwhile, gross domestic GST revenue went up 10.1 per cent to INR 1.45 lakh crore in July — from Rs 1.31 lakh crore in July 2025.
Notably, GST revenue from imports rose 28.8 per cent to INR 66,511 crore, taking the total gross GST collections for the month to INR 2.11 lakh crore.
Also, total GST refunds increased 13.1 per cent (on-year) to INR 29,968 crore last month.
After adjusting for refunds, net GST revenue stood at INR 1.81 lakh crore — a 15.8 per cent increase over July 2025.
According to the monthly GST data, net domestic revenue rose 10.5 per cent to INR 1.27 lakh crore, while net customs GST revenue surged 30.3 per cent to INR 54,223 crore.
Gross GST collections for the four months this fiscal (FY27) surged 10.1 per cent to Rs 8.43 lakh crore, compared with Rs 7.66 lakh crore in the corresponding period of the previous year.
In June, the GST collections rose 13.9 per cent year-on-year to INR 1.94 lakh crore, driven by strong growth in revenues from imports.
According to a latest SBI Research report, after accounting for GST collections together with states' share in basic excise duty (BED), states are expected to be net gainers by approximately INR 1.43 lakh crore in FY27 compared to FY26.
Going forward, the report expects a rebound in the GST collections and yearly growth in the range of 8-9 per cent and the moderation in collection is due to rate rationalisation, which is on expected lines.