India June GST collections up 13.9% to ₹1.95 lakh crore

India's gross Goods and Services Tax collections rose 13.9 percent year-on-year to approximately 1.95 lakh crore rupees in June, driven primarily by a sharp increase in tax revenues from imports, according to government data released on Wednesday. This marks the highest growth rate in over a year and brings monthly collections close to the 2 lakh crore rupee mark for the first time.

The robust overall figure was supported by a 34.6 percent surge in GST revenue from imports, which reached 60,038 crore rupees. In contrast, collections from domestic transactions grew at a more moderate pace of 6.5 percent to about 1.35 lakh crore rupees. After accounting for refunds totaling 32,436 crore rupees, which were up 29.1 percent from a year earlier, net GST collection for the month increased 11.2 percent to over 1.62 lakh crore rupees.

The data indicates that import activity remains strong despite global economic uncertainty, while domestic compliance and formalization continue steadily. Tax experts noted that the significant rise in refunds alongside strong revenue growth reflects an effort to improve business liquidity without compromising tax buoyancy. For the first quarter of the...