June GST collections at Rs 1.95 lakh crore, import revenue jumps 35%

📌 Summary:

• Gross GST collection in June 2026 was Rs 1.95 lakh crore, up 13.9% year-on-year and marginally above May's Rs 1.94 lakh crore (April was a record Rs 2.43 lakh crore)
• Growth driver: tax revenue from imports surged 34.6% (nearly double May's 19.1%); imports made up 30.8% (Rs 60,038 crore) of gross collections, domestic revenue 69.2% (Rs 1.35 lakh crore, up 6.5%)
• Import IGST rise attributed to inbound raw materials/intermediate inputs (processing units, memory chips, copper, aluminium scrap) feeding industrial production, rising commodity prices, and rupee depreciation (experts: KPMG's Abhishek Jain)
• Net GST revenue up 11.2% at Rs 1.62 lakh crore; refunds rose 29.1% to Rs 32,436 crore — strong revenue growth achieved without squeezing business liquidity (AKM Global)
• Milestone: June data came as GST entered its 10th year (rolled out 1 July 2017); GST Council last September approved a two-slab structure and lower rates
• Reform wish-list: single pan-India GST registration, genuine amnesty for reconciliation mismatches, auto-populated returns, fungibility of Input Tax Credit

🎯 UPSC Relevance: GS3 (government budgeting, indirect taxation, fiscal federalism) — GST buoyancy as an indicator of economic activity and the ongoing rate-rationalisation reforms.

📝 Prelims Facts:

• June 2026 gross GST = Rs 1.95 lakh crore (+13.9% y-o-y); April record = Rs 2.43 lakh crore
• Imports = 30.8% of collections; domestic = 69.2%
• Net GST = Rs 1.62 lakh crore; refunds = Rs 32,436 crore
• GST rolled out 1 July 2017; entered 10th year in 2026; GST Council moved to a two-slab structure

🔑 Key Term: IGST (Integrated GST) — levied on inter-state supplies and imports; its sharp rise signals higher import volumes/prices and rupee depreciation.