Gross GST Collections Rise 14.8% to ₹2 Lakh Crore in August

Gross Goods and Services Tax (GST) collections rose 14.8 per cent year-on-year to reach approximately ₹2 lakh crore in August. According to the official data released, net collections during the same period grew by 8.3 per cent to stand at ₹1.68 lakh crore.

A closer look at the revenue streams indicates that GST revenue originating from domestic transactions increased by 9.3 per cent, totaling over ₹1.37 lakh crore. Meanwhile, revenue derived from imports recorded a sharper increase of 29 per cent, amounting to ₹62,604 crore.

A breakdown of the gross collections for August shows that Central GST (CGST) stood at ₹38,413 crore, State GST (SGST) reached ₹46,316 crore, and Integrated GST (IGST) crossed ₹1.15 lakh crore.

During the month under review, tax refunds registered a significant jump of 68 per cent, totaling ₹31,795 crore. After factoring in these refunds, the net GST collection for August settled at ₹1.68 lakh crore, reflecting an 8.3 per cent growth compared to the corresponding period in the previous year.

"The steady growth in gross GST collections, alongside a notable rise in revenue from imports and domestic transactions, points towards consistent economic activity. For businesses and startups operating in India, monitoring these macroeconomic indicators is essential for understanding consumer demand, compliance trends, and overall market liquidity. While refunds have increased substantially, the positive trajectory in net collections demonstrates underlying resilience in the broader economic framework." — Dr. Shishir Gupta, Founder & CEO, StartupLanes