- In July 2026, gross GST collections grew 15.4% to more than ₹2.11 lakh crore, driven by higher imports and sales.
- Domestic transactions increased 10.1% to more than ₹1.44 lakh crore, while import revenues surged 29% to ₹66,511 crore.
- The Central Goods and Services Tax (CGST) revenue stood at ₹39,835 crore, State GST (SGST) at ₹47,881 crore, and Integrated GST (IGST) at more than ₹1.23 lakh crore.
- Total refunds in July grew 13.1% to ₹29,968 crore, and after adjusting refunds, net GST revenue stood at more than ₹1.81 lakh crore.
- From April to July, gross tax collection grew 10.1% to about ₹8.43 lakh crore, while net collections rose 9.2% to ₹7.21 lakh crore.
- Deloitte India Partner M.S. Mani stated that the GST collection reflects continued economic resilience despite external challenges, indicating that domestic consumption is largely insulated from seasonal variations and external headwinds.
- KPMG's Abhishek Jain noted that much of July's GST revenue growth was driven by imports, suggesting a need to examine whether these are finished goods or raw materials.
- Manoj Mishra from Grant Thornton Bharat highlighted that domestic GST growth reflects resilient consumption across major manufacturing hubs, while Saurabh Agarwal from EY India expressed concern over elevated import GST collections indicating a gap in domestic manufacturing capability.
India's gross GST revenue increased by 15.4% to over ₹2.11 lakh crore in July, driven by a 29% rise in import revenues to ₹66,511 crore. This growth reflects strong domestic consumption and economic resilience despite external challenges.12
Tax collection from domestic transactions also saw a 10.1% increase, totaling more than ₹1.44 lakh crore. The gross Central Goods and Services Tax (CGST) revenue for the month was ₹39,835 crore, while State GST (SGST) and Integrated GST (IGST) collections reached ₹47,881 crore and over ₹1.23 lakh crore, respectively.35
Total refunds during July grew 13.1% to ₹29,968 crore, resulting in net GST revenue of over ₹1.81 lakh crore. According to Deloitte India Partner M.S. Mani, the GST collection indicates continued economic resilience, stating, "Steady growth in GST collections each month on domestic consumption indicates that overall domestic consumption is becoming largely insulated from seasonal variations and external headwinds."46
KPMG's Abhishek Jain noted that much of the July GST revenue growth was driven by imports, questioning whether this was due to finished goods or raw materials. EY India's Saurabh Agarwal emphasized that the sustained double-digit growth in GST collections reflects the underlying resilience of the Indian economy, despite concerns over elevated import GST collections.789
Overall, the data suggests a robust economic environment, with strong gains across major manufacturing states such as Maharashtra, Gujarat, and Karnataka.
“After refunds, net GST revenue stood at more than ₹1.81 lakh crore, with April-July gross tax collections up 10.1% to about ₹8.43 lakh crore. Deloitte India's M.S. Mani called the steady growth a sign domestic consumption is becoming insulated from seasonal variations and external headwinds.”
