Gross GST mop-up increases 6.5% to ₹1.86 lakh cr in Aug

Gross Goods and Services Tax revenue in August crossed ₹1.86 lakh crore — the eighth highest monthly collection since the GST regime was launched in July 2017 — marking a modest 6.5% annualised increase because of strong global headwinds and softening of domestic demand due to the monsoon.

- Rajeev Jayaswal

The net revenue after refunds, however, saw a double-digit growth of about 11% to ₹1,66,956 Crore in August as compared to ₹1,50,791 crore in August 2024, which according to some experts, enhances the prospect of tax rate rationalization at the 56th meeting of the GST Council scheduled on September 3-4 in New Delhi. “The increase in collections is in line with the GDP growth data shared recently and would give the policy makers the confidence to move ahead with GST 2.0 reforms slated to be discussed in the GST Council meeting this week,” said MS Mani, partner at Deloitte India. India’s GDP expanded by a five-quarter high of 7.8% in the three months ended June 30.