GST collections in June jump 13.9% YoY to ₹1.95L crore
What's the story
India's Goods and Services Tax (GST) collections witnessed a significant jump of 13.9% year-on-year in June, reaching ₹1.95 lakh crore. This is the highest growth rate in over a year and comes close to the ₹2 lakh crore mark for the first time ever. The increase is mainly due to a sharp rise in import tax collections, which grew by an impressive 34.6%.
Revenue breakdown
Domestic GST revenue sees moderate growth
While the overall GST collections saw a major boost, the domestic GST revenue saw a more moderate growth of 6.5% to ₹1.35 lakh crore. This indicates that most of the improvement in collections came from import-related taxes rather than domestic transactions. After refunds, net GST revenue for June rose by 11.2% to ₹1.62 lakh crore compared to last year's corresponding month figures of ₹1.46 lakh crore.
Refund details
Increase in total refunds issued in June
Total refunds issued in June rose by 29.1% year-on-year to ₹32,436 crore, indicating faster processing of claims. Domestic refunds increased by a whopping 42.9% to ₹17,767 crore, while export-related GST refunds through ICEGATE saw a rise of 15.6% to ₹14,669 crore. For the first quarter of FY27 (April-June), gross GST collections stood at ₹6.32 lakh crore with an 8.4% increase over last year's figure of ₹5.83 lakh crore collected during this period.
State performance
Top-performing states and those lagging behind
Among the states, Uttar Pradesh posted the highest growth rate in domestic GST collections at 19%. It was followed by Assam (17%), Punjab (14%), and Gujarat (12%). Maharashtra, the top contributor to GST revenues, saw a 9% increase while Karnataka recorded a 10% rise. However, some states like Tamil Nadu (-2%), Rajasthan (-5%), and Madhya Pradesh (-5%) witnessed a decline in their respective GST collections for June.