Gross goods and services tax (GST) collections increased 15.4 per cent year-on-year (YoY) to reach Rs 2.11 lakh crore in July, registering the fastest growth in 14 months. Besides, it is for the second time in this fiscal that monthly revenues have surpassed Rs 2 lakh crore.Gross GST collections were Rs 1.83 lakh crore in July 2025 and Rs 1.95 lakh crore last month.A significant rise in import-related GST receipts, which increased by 28.8 per cent to Rs 66,511 crore, was the main driver of the record collection.Meanwhile, domestic GST collections increased by 10.1 per cent to Rs 1.45 lakh crore, demonstrating the continued resilience of the economy and consumer spending.In comparison to June, when GST revenues increased by 13.9 per cent to Rs 1.95 lakh crore, July’s gross receipts show a significant increase.The July collection growth of Rs 2.11 lakh crore was the biggest since May 2025, when revenues increased by 16.4 per cent annually.With the support of year-end business transactions and annual return files, gross GST collections first surpassed the Rs 2 lakh crore threshold during this fiscal in April, when revenues reached a record Rs 2.43 lakh crore.Collections have once again surpassed the Rs 2 lakh crore mark after declining to Rs 1.94 lakh crore in May and then rising to Rs 1.95 lakh crore in June.Net GST revenue increased 15.8 per cent from the previous year to Rs 1.81 lakh crore in July after deducting refunds. During the month, net customs GST receipts jumped 30.3 per cent, reflecting higher tax collections on imports, while total refunds increased 13.1 percent to Rs 29,968 crore.Gross GST receipts from April to July of FY27 increased by 10.1 per cent to Rs 8.43 lakh crore from Rs 7.66 lakh crore during the same period in the previous year. At Rs 7.21 lakh crore, net revenues rose 9.2 per cent.