GST Collections Surge by 10.3% in July, Reaching Rs 1.82 Lakh Crore

Gross GST collections in July rose by 10.3% to over Rs 1.82 lakh crore. The net GST collection after refunds was Rs 1.66 lakh crore, reflecting a 14.4% growth. Domestic GST revenues grew by 8.9%, while import revenues increased by 14.2% in the same period.

Gross GST collections witnessed a 10.3% increase in July, surpassing Rs 1.82 lakh crore, according to official data released on Thursday.

Government data highlighted that total refunds were Rs 16,283 crore for the month. Consequently, net GST collections after refunds amounted to over Rs 1.66 lakh crore, marking a 14.4% rise.

Domestic GST revenues climbed by 8.9%, reaching Rs 1.34 lakh crore, while GST revenue from imports surged 14.2% to Rs 48,039 crore in July. Notably, April 2024 saw a record GST collection of Rs 2.10 lakh crore.