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July GST mop-up at ₹1.96 trillion but refunds slow growth
Mint Hyderabad
|August 02, 2025
Despite the surge in refunds, cumulative GST revenue for the current fiscal year rose 8.4% to ₹7.1 trillion after refunds
The Centre and state governments collected ₹1.96 trillion in Goods and Services Tax (GST) in July, a 7.5% increase from the same period last year, official data showed on Friday. However, a sharp rise in tax refunds moderated the growth in net revenue.
After adjusting for refunds, the net GST revenue stood at ₹1.69 trillion, just 1.7% higher than the year-ago period. Businesses received ₹27,000 crore in tax refunds in July, marking a 67% increase from the same month last year.
Despite the surge in refunds, cumulative GST revenue for the current fiscal year has grown 8.4% to ₹7.1 trillion after refunds.
This story is from the August 02, 2025 edition of Mint Hyderabad.
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