Strong import-related tax collections lifted gross Goods and Services Tax (GST) collections to ₹1.95 lakh crore in June, marking a robust 14 per cent year-on-year growth compared to the same month last fiscal, according to data released by the Finance Ministry on Wednesday.As per the data, gross collections from domestic transactions were up 6.5 per cent to about ₹1.35 lakh crore. These include Central GST (CGST), State GST (SGST) and integrated GST (IGST) collections of ₹37,376 crore, ₹45,116 crore, and ₹52,282 crore, respectively. GST revenue from imports surged 34.6 per cent to ₹60,038 crore. Total refunds were up 29.1 per cent at ₹32,436 crore. After adjusting refunds, net collection grew 11.2 per cent to over ₹1.62 lakh crore.During the first quarter of the current fiscal year, gross GST collections grew 8.4 per cent to about ₹6.32 lakh crore. This includes a 2.8 per cent growth in tax revenues from domestic transactions and a 26.2 per cent growth in imports.According to Vivek Jalan, Partner at Tax Connect, net GST collections rose by 11.2 per cent, with domestic revenues growing by 2.6 per cent despite the GST 2.0 rate reductions and the ongoing impact of accumulated input tax credit on stocks, expected to last 9–12 months. “This shows that consumption remains robust even under structural adjustments; and also challenges such as ITC accumulation on input services under the inverted duty structure, something which is expected that the GST Council would address in the July 2026 meeting in Kolkata,” he said.Saurabh Agarwal, Tax Partner at EY India, said the accelerated pace of GST refunds underscores the government’s proactive commitment to unlocking business liquidity and ensuring that working capital constraints do not stifle industry growth. Furthermore, the impressive revenue surge in states and territories like Manipur, Assam, Andaman and Nicobar, and Lakshadweep points toward a highly broad-based, inclusive economic development model.“The rising share of collections from imports warrants closer structural analysis. To mitigate this reliance and further catalyse domestic capacity, there is a compelling case for policy recalibration — specifically by redeploying unutilised outlays from the production linked incentive (PLI) schemes to strategically attract and scale high-value manufacturing within India,” he said.GST@9According to Manoj Mishra, Partner at Grant Thornton Bharat, as GST completes nine years today, the June numbers mirror the evolution of the reform itself. The consistency of collections around the ₹2 lakh crore mark, alongside faster refunds, demonstrates that GST is maturing into a predictable and technology-driven revenue framework.“The vision of ‘Ek Bharat, Shreshtha Bharat’ is now visible not just in a unified market but in a more integrated compliance ecosystem where improved tax administration is translating into stronger and more stable revenues for both the Centre and the States,” he said.Published on July 1, 2026