GST collections hit 14-month high: July mop-up jumps 15.4pc to Rs 2.11 lakh crore on robust consumption, import growth

THEBUSINESSBYTES BUREAU

NEW DELHI, AUGUST 1, 2026

India’s gross Goods and Services Tax (GST) collections registered their fastest growth in 14 months, rising 15.4 per cent year-on-year to Rs 2.11 lakh crore in July 2026, underscoring sustained strength in domestic consumption, improving business activity and a sharp surge in tax revenues from imports.

The July collection marks the second instance in the current financial year (FY27) that monthly GST receipts have crossed the Rs 2 lakh crore milestone, reinforcing expectations of resilient economic momentum despite ongoing tax rate rationalisation.

Official data released on Saturday showed that gross domestic GST revenue increased 10.1 per cent to Rs 1.45 lakh crore in July, compared with Rs 1.31 lakh crore in the corresponding month last year. A major contributor to the strong overall performance was import-related GST collections, which climbed 28.8 per cent year-on-year to Rs 66,511 crore, taking total gross GST collections for the month to Rs 2.11 lakh crore.

At the same time, GST refunds also recorded healthy growth. Total refunds rose 13.1 per cent year-on-year to Rs 29,968 crore in July. After adjusting for refunds, net GST revenue stood at Rs 1.81 lakh crore, reflecting a robust 15.8 per cent increase over July 2025.

The detailed GST data further highlighted broad-based growth across revenue streams. Net domestic GST revenue rose 10.5 per cent to Rs 1.27 lakh crore, while net customs GST revenue registered a sharp 30.3 per cent jump to Rs 54,223 crore, indicating continued strength in import-related economic activity.

The latest figures extend the healthy revenue trend witnessed during the current fiscal year. During the first four months of FY27, gross GST collections increased 10.1 per cent to Rs 8.43 lakh crore, compared with Rs 7.66 lakh crore in the corresponding period of the previous financial year.

The July performance follows another strong month in June, when GST collections rose 13.9 per cent year-on-year to Rs 1.94 lakh crore, driven largely by robust growth in revenues from imports.