Gross GST collection increases by 7.5% to Rs. 1.96 trillion (US$ 22.44 billion) in July; refunds surge 67%

In July, the total Goods and Services Tax (GST) revenue increased by 7.5% compared to the previous year, reaching around Rs. 1.96 trillion (US$ 22.44 billion), fueled by increased local revenues. This represents a rise from the Rs. 1.82 trillion (US$ 20.83 billion) gathered in July 2024 along with the Rs. 1.84 trillion (US$ 21.06 billion) gathered in June. Gross domestic revenue experienced a rise of 6.7% to Rs. 1.43 trillion (US$ 16.37 billion). In contrast, revenue from imports increased by 9.5% to Rs. 52,712 crore (US$ 6.03 billion). GST refunds saw a notable increase, climbing by 66.8% compared to last year, totaling Rs. 27,147 crore (US$ 3.11 billion). Net GST revenue for July 2025 was recorded at Rs. 1.69 trillion (US$ 19.35 billion), indicating a 1.7% year-over-year increase. Mr. Saurabh Agarwal, a Tax Partner at EY India, states that the general trend indicates a steady consumption pattern and a reliable growth path for the economy, even with certain global pressures and short-term declines. Agarwal noted that the prompt refund process by the government is advantageous for businesses because it guarantees they possess the required working capital