Gross GST collections rise 15.4% to Rs 2.11 lakh crore in July

Gross Goods and Services Tax (GST) collections rose 15.4 per cent year-on-year to Rs 2.11 lakh crore in July, registering the fastest monthly growth in 14 months and marking only the second occasion in the current financial year that monthly revenues have crossed the Rs 2 lakh crore mark.According to official data released on Friday, the growth was driven by a sharp rise in import-related GST collections, which increased 28.8 per cent to Rs 66,511 crore. Domestic GST revenues also remained robust, rising 10.1 per cent to Rs 1.45 lakh crore, reflecting sustained economic activity and healthy consumption demand.
July's GST collections increased from Rs 1.95 lakh crore in June, when GST revenues had risen 13.9 per cent year-on-year. The latest growth is the highest since May 2025, when GST collections had expanded 16.4 per cent year-on-year.This is the second time in FY27 that gross GST collections have crossed the Rs 2 lakh crore mark, after touching a record Rs 2.43 lakh crore in April, aided by year-end business transactions and annual return filings. Collections had subsequently moderated to Rs 1.94 lakh crore in May before recovering to Rs 1.95 lakh crore in June.
After adjusting for refunds, net GST revenues stood at Rs 1.81 lakh crore in July, up 15.8 per cent from the corresponding month last year. Total refunds rose 13.1 per cent to Rs 29,968 crore, while net customs GST revenues surged 30.3 per cent, indicating higher tax collections on imports.During the first four months of FY27 (April-July), gross GST collections increased 10.1 per cent to Rs 8.43 lakh crore from Rs 7.66 lakh crore in the year-ago period. Net GST collections during the period rose 9.2 per cent to Rs 7.21 lakh crore, underscoring continued strength in tax revenues and economic activity.

(Business Correspondent)