The government has reported a significant increase in GST collections, with a growth rate of 13.9% in June, reaching a total of ₹1.95 lakh crore.
Key Highlights of GST Collections
The data reveals that domestic transactions contributed ₹1.35 lakh crore to the total, marking a 6.5% increase, while import revenues saw a substantial rise of 34.6% to ₹60,038 crore.
Refunds and Net Collections
Total refunds disbursed in June stood at ₹32,436 crore, representing a 29.1% increase, and after adjusting for these refunds, the net collection grew by 11.2% to over ₹1.62 lakh crore.
The strong growth in GST collections is a positive indicator of the country’s economic health, and the government will be closely monitoring these numbers to inform future policy decisions.
- Domestic transaction growth: 6.5% to ₹1.35 lakh crore
- Import revenue growth: 34.6% to ₹60,038 crore
- Total refunds: up 29.1% to ₹32,436 crore
- Net collection growth: 11.2% to over ₹1.62 lakh crore
Source: Original Article
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