Current Affairs - Economy - Discussion

14.8% was the year-on-year growth recorded in India’s gross Goods and Services Tax (GST) revenue in August 2026. The total gross GST collections reached ₹1,99,853 crore, reflecting strong revenue performance. Domestic transactions increased by 9.3% to ₹1,37,249 crore, while revenue from imports rose by 29% to ₹62,604 crore. After accounting for refunds, net GST revenue stood at ₹1,68,057 crore, registering an 8.3% increase. Total refunds increased significantly by 67.9% to ₹31,795 crore. The 57th GST Council meeting is scheduled for September 12, 2026.