GST collections rise 14 pc to Rs 1.95 lakh crore in June

New Delhi, July 1 (IANS) The gross Goods and Services Tax (GST) collections rose 13.9 per cent year-on-year to Rs 1.94 lakh crore in June, driven by strong growth in revenues from imports, according to official data released on Wednesday.

Gross GST revenue stood at Rs 1,94,812 crore in June, compared with Rs 1,71,105 crore in the corresponding month last year.

The increase was led by a 34.6 per cent jump in GST revenue from imports to Rs 60,038 crore, while gross domestic GST revenue rose 6.5 per cent to Rs 1,34,774 crore during the month.

Net GST collections, after accounting for refunds, increased 11.2 per cent year-on-year to Rs 1,62,377 crore in June from Rs 1,45,984 crore a year ago.

Total GST refunds rose almost 30 per cent to Rs 32,436 crore during the month, compared with Rs 25,121 crore in June last year. While domestic refunds increased 42.9 per cent to Rs 17,767 crore, and refunds on exports through ICEGATE rose 15.6 per cent to Rs 14,669 crore.

The data showed that net domestic GST revenue grew 2.6 per cent to Rs 1,17,007 crore, while net customs GST revenue surged 42.2 per cent to Rs 45,370 crore, reflecting robust import-related tax collections.

On a cumulative basis, gross GST collections during the April-June period of the current financial year rose 8.4 per cent to Rs 6,31,699 crore from Rs 5,82,542 crore in the corresponding period of the previous fiscal.

Meanwhile, net GST revenue for the first three months of FY27 increased 7.1 per cent year-on-year to Rs 5,40,218 crore, while total refunds during the period rose 16.8 per cent to Rs 91,482 crore.

In May, the gross GST collections increased by over 3 per cent year-on-year. As per data, gross GST revenue stood at Rs 1,94,184 crore, compared to Rs 1,88,172 crore in the same month last year.

–IANS

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