NEW DELHI: India’s Goods and Services Tax (GST) collections reached Rs 1.86 lakh crore in August, a 6.5% increase over the same month last year, according to data released by the Ministry of Finance on Monday. However, the collection for the month of August is slightly lower than that of July’s, when the collection was at Rs 1.96 lakh crore, which had been the second-highest monthly collection since the tax’s rollout in 2017.
Of the total gross collections in August, the total collection of Central GST is at Rs 34,540 crore, and that of State GST is at Rs 42,825 crore. Integrated GST for Rs 93,345 crore (including Rs 42,672 crore collected on imports), and cess for Rs 15,397 crore (including Rs 1,379 crore from imports). After adjusting for refunds, the net revenue records at Rs 1.67 lakh crore, showing a growth of more than 10% compared to August 2024.
Factors that contributed to the surge in the GST collection include domestic transactions, including import of services, that recorded 9.6% growth while revenues from goods imports contracted marginally by 1.2%. Refunds in August were lower at Rs 19,359 crore, down nearly 20% year-on-year, which supported higher net collections.
So far in this fiscal, average monthly GST collections have consistently stayed above the Rs 1.80 lakh crore mark, although it is slightly lower average than last year. The average monthly gross collection in FY25 now stands at nearly Rs 1.91 lakh crore.
This is one of the penultimate months where the collection has happened in the existing tax structure, as the government plans to bring the GST reforms by Diwali.
The latest figures come just ahead of the upcoming GST Council meeting, where discussions on rate rationalisation and anti-profiteering measures are expected.
GST council meeting is scheduled to happen on September 3-4 in New Delhi.