GST collections rose 15.4% year-on-year to Rs 2.11 lakh crore in July 2026, marking the fastest growth in 14 months and only the second instance this fiscal year that monthly collections have crossed the Rs 2 lakh crore threshold.

Key Highlights

• GST collections rose 15.4% year-on-year to Rs 2.11 lakh crore in July 2026, the fastest growth in 14 months.
• Import GST collections jumped 28.8% to Rs 66,511 crore, while domestic revenues grew 10.1% to Rs 1.45 lakh crore.

Import Taxes Drive Strong Collections

The robust performance was led by a sharp rise in import-related GST collections, which jumped 28.8% to Rs 66,511 crore. Domestic GST revenues also stayed healthy, growing 10.1% to Rs 1.45 lakh crore, pointing to sustained strength in economic activity and consumer spending.

July's numbers build on a strong showing in June, when GST revenues had risen 13.9% to Rs 1.95 lakh crore. At Rs 2.11 lakh crore, July's growth rate was the highest since May 2025, when collections had grown 16.4% year-on-year.

Gross GST collections had first crossed the Rs 2 lakh crore mark this fiscal year in April, touching a record Rs 2.43 lakh crore, aided by year-end business transactions and annual return filings. After easing to Rs 1.94 lakh crore in May and recovering marginally to Rs 1.95 lakh crore in June, collections have now moved back above the Rs 2 lakh crore level.

After accounting for refunds, net GST revenues stood at Rs 1.81 lakh crore in July, up 15.8% year-on-year. Total refunds rose 13.1% to Rs 29,968 crore during the month, while net customs GST revenue growth surged 30.3%, reflecting stronger tax collections on imports.

On a cumulative basis, gross GST collections for April-July of FY27 rose 10.1% to Rs 8.43 lakh crore, compared with Rs 7.66 lakh crore in the same period last year. Net collections during this period increased 9.2% to Rs 7.21 lakh crore.

Also Read: GST Collections Rise 13.9% to Rs 1.95 Lakh Cr in June on Strong Import

GST Collections Surge in July