Gross GST collections rise 15.4% to Rs.2.11 trillion in July
New Delhi, Aug. 1 -- India's gross goods and services tax (GST) collections rose 15.4% year-on-year to Rs.2.11 trillion in July, marking one of the strongest monthly performances this fiscal year, driven by robust domestic transactions and a sharp jump in tax collections from imports, according to data released by the finance ministry on Friday.
After adjusting for refunds, net GST collections rose 15.8% year-on-year to Rs.1.81 trillion.
Domestic GST collections increased 10.1% to Rs.1.44 trillion in July, while GST revenue from imports surged 28.8% to Rs.66,511 crore, indicating healthy domestic demand alongside resilient import activity.
Total refunds issued during the month increased 13.1% to Rs.29,968 crore, while net domestic GST ...
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