Daijiworld Media Network – New Delhi

New Delhi, Jul 1: India’s gross Goods and Services Tax (GST) collections rose by 6.2% year-on-year to Rs 1.84 lac cr in June, according to data released by the Union Finance Ministry on Tuesday. The figure is a notable increase from Rs 1.73 lac cr collected in the same month last year.

However, it marked a drop from May’s collection of Rs 2.01 lac cr and remained below the record high of Rs 2.37 lac cr registered in April this year.

In June, GST collections from domestic transactions increased by 4.6% to Rs 1.38 lac cr, while revenue from imports saw a sharper rise of 11.4% at Rs 45,690 cr.

The break-up of gross GST revenue stood at Rs 34,558 cr from Central GST (CGST), Rs 43,268 cr from State GST (SGST), and Rs 93,280 cr from Integrated GST (IGST). Revenue from Cess stood at Rs 13,491 cr.

The government also reported a 28.4% rise in total refunds during the month, which amounted to Rs 25,491 cr. After adjusting for refunds, the net GST collection stood at approximately Rs 1.59 lac cr, showing a 3.3% growth compared to June 2023.

Officials said the steady performance in GST revenues reflects robust economic activity and improved tax compliance.