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FinanceTimes of India

GST collections jump 15.4% to over Rs 2.11 lakh crore in July

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  1. India's gross GST collections rose 15.4% year-on-year to over Rs 2.11 lakh crore in July 2026.

  2. July collections comprised Rs 39,835 crore from CGST, Rs 47,881 crore from SGST, and over Rs 1.23 lakh crore from IGST.

  3. Total GST refunds increased 13.1% to Rs 29,968 crore, resulting in net GST revenue of over Rs 1.81 lakh crore.

  4. Growth was driven by strong performance in both domestic transactions and imports, with imports contributing significantly.

  5. KPMG's Abhishek Jain suggested considering GST 3.0, focusing on refunds for input services in inverted duty structure companies.

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