GST collections for July 2024
India’s gross GST collections crossed ₹1.82 lakh crore to hit the third-highest monthly level in July, with revenue growth rebounding to 10.3%
Gross revenue from domestic transactions grew 8.9%, easing from 9.4% in June, but growth in taxes collected on imports bounced to 14.2%, from 2.4% a month earlier
After effecting refunds, net GST collections rose 14.4% in July to ₹1,65,793 crore, with net import revenue up 17.3% and domestic transactions clocking a 13.5% rise
Net domestic revenues had risen 8.5% in June, while net receipts from imports had contracted 1.5% from June 2023 levels.
Domestic refunds slipped 34.1% in July, while export-related GST refunds rose 1.4%
While total revenues from domestic transactions were 8.9% higher, as many as five States clocked a contraction
Revenue growth was milder than the national average in nine States, including Tamil Nadu and Bihar.
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