Gross GST mop-up rises 7.5% to Rs. 1.96 trillion (US$ 22.44 billion) in July; refunds jump 67%

In July, gross Goods and Services Tax (GST) collection rose by 7.5% YoY to approximately Rs. 1.96 trillion (US$ 22.44 billion), driven by higher domestic revenues. This is an increase from the Rs. 1.82 trillion (US$ 20.83 billion) collected in July 2024 and the Rs. 1.84 trillion (US$ 21.06 billion) collected in June. Gross domestic revenue saw a 6.7% increase to Rs. 1.43 trillion (US$ 16.37 billion). In comparison, tax from imports went up by 9.5% to Rs. 52,712 crore (US$ 6.03 billion). GST refunds experienced a significant jump, rising by 66.8% YoY to Rs. 27,147 crore (US$ 3.11 billion). Net GST revenue for July 2025 stood at Rs. 1.69 trillion (US$ 19.35 billion), representing a 1.7% YoY growth. 
According to a Tax Partner at EY India, Mr. Saurabh Agarwal, the overall trend points to a stable consumption pattern and a consistent growth trajectory for the economy, despite some global pressures and temporary dips. Agarwal also mentioned that the government's timely refund process is beneficial for businesses as it ensures they have the necessary working capital.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.