Continuing a robust trend, <a href="https://www.mid-day.com/news/india-news/article/gst-collections-rise-to-record-high-of-rs-243-lakh-cr-in-april-23628392" target="_blank" rel="none noopener">India's gross goods and services tax (GST) collections</a> surged 15.4 per cent (year-on-year) to Rs 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 Rs 2 lakh crore mark, driven by strong domestic consumption and business activity.
Meanwhile, gross domestic GST revenue went up 10.1 per cent to Rs 1.45 lakh crore in July &mdash; from Rs 1.31 lakh crore in July 2025.
Notably, GST revenue from imports rose 28.8 per cent to Rs 66,511 crore, taking the total gross GST collections for the month to Rs 2.11 lakh crore.
Also, total GST refunds increased 13.1 per cent (on-year) to Rs 29,968 crore last month.
After adjusting for refunds, net GST revenue stood at Rs 1.81 lakh crore &mdash; a 15.8 per cent increase over July 2025.
According to the monthly GST data, net domestic revenue rose 10.5 per cent to Rs 1.27 lakh crore, while net customs <a href="https://www.mid-day.com/mumbai/mumbai-news/article/bmc-hold-gst-awareness-camp-for-over-100-women-entrepreneurs-in-mumbai-23626402" target="_blank" rel="none noopener">GST</a> revenue surged 30.3 per cent to Rs 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 Rs 1.94 lakh crore, driven by strong growth in revenues from imports.
According to a latest <a href="https://www.mid-day.com/business/business-news/article/india-may-receive-fcnr-b-deposits-up-to-usd-85-billion-sbi-report-23641803" target="_blank" rel="none noopener">SBI Research report</a>, after accounting for GST collections together with states' share in basic excise duty (BED), states are expected to be net gainers by approximately Rs 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.
This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever.

Monthly collections have breached 2 lakh crore mark for the second time this fiscal year

Gross GST collection increases 15.4 per cent to over Rs 2.11 lakh crore in July

UPI value transactions surge 19 per cent in July to Rs 29.88 lakh crore

This is the second time this fiscal that monthly collections have crossed the Rs 2 lakh crore mark, driven by strong domestic consumption and business activity

India's gross GST collection swells 15.4 per cent to over Rs 2.11 lakh crore in July

Trending Stories

Latest Photos

Latest Videos

Latest Web Stories

Mid-Day Fast

Home / Business / Business News / Article / India's gross GST collection swells 15.4 per cent to over Rs 2.11 lakh crore in July