GST collections climb 14% to ₹1.95 lakh crore in June on strong domestic demand
June gross GST hit ₹1.95 lakh crore, up 14% YoY, driven by robust domestic consumption of ₹1.34 lakh crore. Imports rose 34.6% to ₹60,038 crore; net collections up 11.2% to ₹1.62 lakh crore after refunds surged 29.1%. GST 2.0 rate cuts absorbed by higher transaction values, with ITC and inverted duty structure on July Council agenda.
June GST collections rose 14% YoY to ₹1.95 lakh crore on robust domestic consumption, reflecting strong consumer demand. GST 2.0 rate cuts absorbed by higher transaction values; ITC accumulation and inverted duty structure to be addressed at July GST Council meeting.
Why this matters
June's ₹1.95 lakh crore print aligns with prior signals citing 13.9% growth led by import surge, with Maharashtra and Karnataka leading state collections. The 14% rise confirms resilient domestic consumption.
Retail-company theme accelerating at +472300% QoQ.