According to data released by the government on Saturday, amid strong economic activity and consumption in the country, gross Goods and Services Tax (GST) collections in July 2026 increased by 15.4 percent year-on-year to ₹2.11 lakh crore, the fastest growth in the last 14 months. This is the second time in the current financial year 2026-27 that monthly GST collections have crossed the ₹2 lakh crore mark.
According to the data, domestic GST revenues increased by 10.1 percent to ₹1.45 lakh crore in July, compared to ₹1.31 lakh crore in the same month last year.
GST collections on imports also recorded a strong 28.8 percent increase to ₹66,511 crore, taking the total gross GST collections for July to ₹2.11 lakh crore.
According to the government, GST refunds also increased by 13.1 percent to ₹29,968 crore during July. Net GST revenue, after adjusting for refunds, stood at ₹1.81 lakh crore, an increase of 15.8 percent compared to July 2025.
According to monthly GST data, domestic net revenue increased by 10.5 percent to ₹1.27 lakh crore, while net GST revenue from customs duties increased by a sharp 30.3 percent to ₹54,223 crore.
Total gross GST collections in the first four months of the current financial year (April-July) increased by 10.1 percent to ₹8.43 lakh crore, compared to ₹7.66 lakh crore in the same period of the previous financial year. Previously, GST collections in June 2026 increased by 13.9 percent to ₹1.94 lakh crore, with import revenue contributing significantly.
Meanwhile, a recent SBI Research report stated that combining the states’ share of GST collections and Basic Excise Duty (BED), states are expected to receive an additional benefit of approximately ₹1.43 lakh crore in FY 2026-27 compared to the previous fiscal year.
The report also stated that GST collections are expected to see further improvement in the coming months, with growth expected to be in the range of 8 to 9 percent for the entire fiscal year.
According to the report, the slowdown in collections in recent months is primarily due to the rate rationalization of GST rates, which was already expected.