India’s gross GST (Goods and Services Tax) collection for July 2026 stood at INR 2.11 lakh crore, up 15.4% year-on-year (INR 1.83 lakh crore for the same period last year).

According to government officials, the robust performance was driven by a sharp increase in import-related GST collections, which rose 28.8% year-on-year to INR 66,511 crore from INR 51,626 crore a year earlier.

This is only the second instance this fiscal year that monthly collections have crossed the INR 2 lakh crore mark (it was April 2026, when revenues touched a record INR 2.43 lakh crore).

On a month-on-month basis, GST collection increased from INR 1.95 lakh crore in June 2026 to INR 2.11 lakh crore in July 2026.

Regional Trends: Maharashtra remained the highest contributor to GST revenue in July 2026, with collections rising 13% year-on-year to INR 32,210 crore.

Gujarat recorded a 19% increase in GST collections to INR 12,923 crore, while Karnataka’s collections rose 12% to INR 13,854 crore.

GST Collections Monthly Data

April 2026 = INR 2.43 lakh crore

May 2026 = INR 1.94 lakh crore

June 206 = INR 1.95 lakh crore

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1 July 2026

GST collections June 2026

India’s gross Goods and Services Tax (GST) collection for the month of June 2026 stood at INR 1.95 lakh crore, an increase of 13.9 percent on a year-on-year basis (INR 1.71 lakh crore for the same period last year).

According to the government officials, the June GST collection marks the strongest annual expansion since May 2025, when GST revenues had risen 16.4 percent.

According to the official data, a major driver of the June 2026 GST collection was import-related revenue, which jumped 34.6% Y-o-Y to INR 60,038 crore from INR 44,600 crore a year earlier.

On a month-on-month basis, GST collection increased marginally from INR 1.94 lakh crore in May 2026 to INR 1.95 lakh crore in June 2026.

Regional Trends: According to the GOI website, Maharashtra led the collections with ₹30,714 crore.

Uttar Pradesh posted the strongest growth in June 2026, with GST collections rising 19 percent, followed by Assam (17%), Punjab (14%), and Gujarat posted (12%) growth.

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1 June 2026

GST collections May 2026

India’s gross Goods and Services Tax (GST) collection for the month of May 2026 stood at INR 1.94 lakh crore, increased by 3.2 percent on a year-on-year basis (INR 1.88 lakh crore for the same period last year).

According to government sources, collections are healthy, and demand is robust.

According to official data, the services sector continues to demonstrate strong momentum in April 2026, with total taxable supply growing by 22.2 percent year-on-year.

On a month-on-month basis, GST collection decreased from INR 2.43 lakh crore in April 2026 to INR 1.94 lakh crore in May 2026.

Gross Domestic GST Revenue: Fell by 2.6 percent Y-o-Y to INR 1.35 lakh crore.

Import-Related GST Revenues: Grew by 19.1 percent annually (INR 59,654 crore).

Regional Trends: According to the GOI website, Maharashtra led the collections with ₹29,141 crore, followed by Karnataka and Gujarat.

1 May 2026

GST collections April 2026

India’s gross Goods and Services Tax (GST) collection for the month of April 2026 stood at INR 2.43 lakh crore, increased by 8.7 percent on a year-on-year basis (INR 2.23 lakh crore for the same period last year).

April 2026 registered an all-time high GST collections primarily due to higher import revenues even though domestic consumption growth appeared to be slowing down.

On a month-on-month basis, GST collection increased from INR 2 lakh crore in March 2026 to INR 2.43 lakh crore in April 2026.

Gross Domestic GST Revenue: Rose by 4.3 percent Y-o-Y to INR 1.85 lakh crore.

Import-Related GST Revenues: Grew by 25.8 percent annually (INR 57,580 crore).

Regional Trends: According to the GOI official website, Maharashtra led the collections with ₹22,929 crore, followed by Karnataka and Gujarat.

1 April 2026

GST collections March 2026

India’s gross Goods and Services Tax (GST) collection for the month of March 2026 stood at INR 2 lakh crore, increased by 8.8 percent on a year-on-year basis (INR 1.84 lakh crore for the same period last year).

On a month-on-month basis, GST collection increased from INR 1.84 lakh crore in February 2026 to INR 2 lakh crore in March 2026.

Gross Domestic GST Revenue: Rose by 5.9 percent Y-o-Y to INR 1.46 lakh crore.

Import-Related GST Revenues: Grew by 17.8 percent annually (INR 53,861 crore).

1 March 2026

GST collections February 2026

India’s goods and services tax (GST) collection for the month of February 2026 stood at ₹1.84 lakh crore, increased by 8.1 percent on a year-on-year basis (₹1.69 lakh crore for the same period last year).

Gross Domestic GST Revenue: Rose by 5.3 percent Y-o-Y to ₹1.35 lakh crore

Import-Related GST Revenues: Grew by 17.2 percent annually.

4 September 2025

The 56th GST (Goods and Services Tax) Council meeting, led by the honourable Finance Minister Shri Nirmala Sitharaman, on September 3, 2025, approved a two-slab structure, i.e., 5% and 18%, and no GST on individual health insurance policies.

Yes, there will be a special tax of 40 per cent for sin, super luxury, and demerit goods such as cigarettes, pan masala, and tobacco, as per the GST 2.0 news.

With these reforms, the GST will eliminate the multiplicity of slabs, i.e., 5 percent, 12 percent, 18 percent, and 28 percent.

In a late evening media briefing, finance minister Sitharaman said that this is not just GST rate rationalisation but a structural reform that will ease compliance.

The Finance minister also stated that 22 September 2025 is the Gst 2.0 effective date, the first day of Navratri…

Find details of the products available under the New gst rate cut.

PM Said –

Prime Minister Narendra Modi has said that “The next generation of GST reforms are a gift for every Indian this Diwali.”

It will benefit the common man, farmers, middle-class, MSMEs, women, and youth.

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Disclaimer: The contents and data presented here are just for your information & personal use only. While much effort is made to provide the information, I ( Vishal Dalwadi ) or “FinBlab” do not guarantee the accuracy, correctness, completeness or reliability of any information or data displayed herein and shall not be held responsible.

The post GST 2.0 News: List Of Products With Their New GST Rates appeared first on Upcoming ipos: Latest news on stocks, economy & finance.

It took over 55 years to Indian economy to reach $1 trillion but likely to become $3 trillion economy by FY20

The finance minister express her confidence that project like Bharatmala will enhance road connectivity and Sagarmala will help port and waterways connectivity.

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Sitharaman said “it is estimated that railway infra will need investment of INR 50 lakh crore between 2018 and 2030” and necessary to privatise.

Pension benefits under new scheme called Pradhan Mantri Man dhan Scheme will be offered to 3 crore shop owners with annual turnover of less than Rs 1.5 crore

Sitharaman express her confidence that will work to make a platform for listing social enterprises and voluntary organisations to raise capital as (1) equity, (2) debt or (3) units like mutual fund

India’s FDI inflows in FY 2018-19 remained strong compared to global at $ 54.2 billion, 6% higher as compared to last year.

The finance minister assure the nation that all will have electricity connection by 2022 “except those unwilling to take the connection”

Sitharaman said nearly 1.95 crore houses are proposed to be provided to eligible beneficiaries under the Pradhan Mantri Awas Yojana,

Approximately 1,25,000 km of roads will be upgraded under “Pradhan Mantri Gram Sadak Yojana” at estimated cost of nearly INR 80,200 Cr

9.6 crore toilets have been constructed and more than 5.6 lakh villages have become open-defecation free, and approximately 95% of all cities have declared themselves open-defecation free.

For the youth of India, the government proposes a National Education Policy (NEP) to transform and take India’s higher education system to global standards,

From no single Indian institute in top 200 universities ranking until 5 years ago, Sitharaman said, India now have 3 institutions in the top 200 global institutions bracket.

A new channel is proposed to be started under Doordarshan bouquet to provide a platform for startups to disseminate information in the industry.

Finance Minister said, under the Pradhan Mantri Shram Yogi Maan Dhan Yojana of providing INR 3,000 – nearly 30 lakh workers have joined the scheme,

Nearly 35 crore LED bulbs have been distributed leading to cost saving of INR 18,341 Cr annually,

Training of 10 million individuals in industry relevant skills like AI, Big Data, and IoT will help address the severe skill shortage technology and IT companies are facing right now.

The government is developing 17 iconic tourism sites as world-class tourist centres to improve the flow of foreign and domestic tourists to these destinations.

The government has proposed to allocate INR 70,000 Cr for PSU Bank recapitalisation.

The Government of India proposes INR 100 lakh crore investment for infrastructure over the next 5 years,

The government is setting an enhanced target of INR 1.05 Cr for disinvestment during FY20 and will continue with disinvestment of PSUs in the non-financial space

Direct tax revenue has grown 78% from 2014 to 2019

Additional income tax deduction of INR 1.5 lakh on interest paid on loans taken to buy electric vehicles. This leads to a benefit of INR 2.5 lakh Cr over the tax period of the loan for the loan payer.

An additional deduction of INR 1,50,000 on interest on loans borrowed under affordable housing until 2020.

The Securities Transaction Tax (STT) is proposed to be restricted to the difference between settlement and strike price of options,

2 percent tax levied on cash withdrawal over INR 1 Cr per year

In view of rising income levels, a surcharge will be levied on individuals with taxable income of INR 2 to 5 Cr, and Rs 5 crore and above.

Interest deduction up to INR 3.5 lakh for affordable housing as against INR 2 lakh earlier now to be available until March 31, 2020.

The government proposes an increase in customs duty on gold and other precious metals to 12.5% and a special additional excise duty of Re 1/Litre on petrol and diesel. A 5% customs duty on imported books and increase on auto parts, synthetic rubber, PVC, vinyl flooring and tiles.

Disclaimer: The contents and data presented here are just for your information & personal use only. I have taken help from site like MoneyControl etc to form an article. While much effort is made to provide the information, I ( Vishal Dalwadi ) or “FinBlab” do not guarantee the accuracy, correctness, completeness or reliability of any information or data displayed herein and shall not be held responsible.

The post Union Budget 2019-20: Key Updates appeared first on Upcoming ipos: Latest news on stocks, economy & finance.