June GST collections 13.9% to ₹1.95 lakh crore

India's GST revenue surged 13.9% to ₹1.95 lakh crore in June, driven by a significant 34.6% jump in import tax collections. While domestic GST saw a modest 6.5% rise, import receipts were the primary growth engine. This robust performance, despite...

Agencies
Domestic collections during the quarter grew a modest 2.8%.
India's gross Goods and Services Tax (GST) collections rose 13.9% year-on-year to ₹1.95 lakh crore in June, with a sharp jump in import tax receipts offsetting relatively muted growth in domestic collections, according to provisional government data released on Wednesday.

Gross domestic GST revenue rose 6.5% to ₹1,34,774 crore, while collections from imports surged 34.6% to ₹60,038 crore, emerging as the principal driver of overall revenue growth.

Total GST refunds increased 29.1% year-on-year to ₹32,436 crore, with domestic refunds rising 42.9%. After adjusting for refunds, net GST revenue grew 11.2% to ₹1,62,377 crore.


For the April-June quarter, gross GST collections rose 8.4% to ₹6.32 lakh crore, while net collections increased 7.1% to ₹5.40 lakh crore.

Domestic collections during the quarter grew a modest 2.8%, whereas import-related GST receipts expanded 26.2%, indicating that external trade continued to provide the biggest boost to tax revenues.

"The consistent growth in GST collections is a clear bellwether of the Indian economy's underlying resilience, demonstrating that domestic consumer demand remains robust despite persistent global geopolitical headwinds," said Saurabh Agarwal, Tax Partner, EY India.
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The June collections comprised CGST of ₹37,376 crore, SGST of ₹45,116 crore and IGST of ₹1,12,320 crore, including taxes on imports. The government said the figures are provisional and may undergo minor revisions after final reconciliation.
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