India’s gross Goods and Services Tax (GST) collections surged 22.9% year on year to ₹2.31 lakh crore in October 2026, marking the fastest growth in more than four years. The increase was driven by both domestic economic activity and a sharp rise in tax revenue from imports, which climbed 42.2%.
Net GST collections, after refunds, rose even faster at 25.6% to ₹2.03 lakh crore. The figures, released by the Finance Ministry on November 1, also show that monthly gross collections remained above ₹2 lakh crore for the fourth consecutive month.
Key Takeaways
- Gross GST collections reached ₹2,31,290 crore in October 2026, up 22.9% year on year.
- Domestic GST revenue increased 15.8% to ₹1,59,044 crore.
- GST revenue from imports jumped 42.2% to ₹72,246 crore.
- Net GST collections rose 25.6% to ₹2,03,356 crore after refunds.
- Total GST refunds increased 6.5% to ₹27,934 crore.
- April-October gross GST collections reached ₹14.78 lakh crore, up 13.2%.
- Maharashtra remained the largest contributor to domestic GST revenue.
- October recorded the fastest annual growth in GST collections in more than four years.
GST Collections Reach ₹2.31 Lakh Crore in October
India collected ₹2,31,290 crore in gross GST revenue in October 2026, compared with ₹1,88,125 crore in October 2025.
The 22.9% annual increase represented a significant acceleration from September, when GST collections grew 14.7% year on year.
October’s collection was also the second-highest monthly total in FY27, after April’s ₹2.43 lakh crore.
The government has now recorded four consecutive months of gross GST collections exceeding ₹2 lakh crore.
| Month | Gross GST collection | Year-on-year growth |
|---|---|---|
| April 2026 | ₹2.43 lakh crore | — |
| May 2026 | — | — |
| June 2026 | — | 13.9% |
| July 2026 | — | 15.4% |
| August 2026 | — | 14.3% |
| September 2026 | — | 14.7% |
| October 2026 | ₹2.31 lakh crore | 22.9% |
Note: The table includes selected reported figures; dashes indicate figures not included in the cited October release.
The October performance indicates stronger tax collections compared with the same month last year. However, the increase was not evenly distributed between domestic transactions and imports.
Import-Related GST Revenue Jumps 42.2%
The strongest contribution to October’s growth came from GST collected on imports.
Revenue from imports increased 42.2% to ₹72,246 crore, compared with ₹50,796 crore in October 2025.
Domestic GST revenue also grew, but at a slower pace of 15.8%, reaching ₹1,59,044 crore against ₹1,37,328 crore a year earlier.
| Revenue category | October 2025 | October 2026 | YoY growth |
|---|---|---|---|
| Domestic GST revenue | ₹1,37,328 crore | ₹1,59,044 crore | 15.8% |
| Import-related GST revenue | ₹50,796 crore | ₹72,246 crore | 42.2% |
| Gross GST collection | ₹1,88,125 crore | ₹2,31,290 crore | 22.9% |
Import-related GST revenue includes the Integrated GST collected on imported goods.
The faster increase in import collections indicates that cross-border goods transactions contributed significantly to the overall growth. However, it does not mean that domestic consumption alone increased by 22.9%.
The distinction matters because GST collections reflect several factors, including the value of taxable transactions, imports, compliance, refunds and the timing of tax payments.
CGST, SGST and IGST Collection Breakdown
October’s GST collection included revenue from the three major components of the indirect tax system: Central GST, State GST and Integrated GST.
| GST component | October 2026 collection |
|---|---|
| Central GST (CGST) | ₹42,935 crore |
| State GST (SGST) | ₹51,340 crore |
| Integrated GST (IGST) | ₹1,37,015 crore |
| Total gross GST | ₹2,31,290 crore |
IGST accounted for the largest portion of the month’s collection. It includes revenue from interstate transactions and imports.
The IGST figure can be further divided into:
- Domestic transaction-related IGST: ₹64,769 crore.
- Import-related IGST: ₹72,246 crore.
This breakdown highlights the importance of interstate trade and international imports in India’s GST revenue system.
Net GST Collections Increase 25.6% After Refunds
Gross GST collections represent the total tax collected before refunds are deducted.
After adjusting for refunds, net GST collections increased 25.6% year on year to ₹2,03,356 crore in October 2026, compared with ₹1,61,900 crore in October 2025.
Total refunds increased 6.5% to ₹27,934 crore during the month.
| Particulars | October 2025 | October 2026 | Growth |
|---|---|---|---|
| Gross GST collections | ₹1,88,125 crore | ₹2,31,290 crore | 22.9% |
| GST refunds | ₹26,225 crore | ₹27,934 crore | 6.5% |
| Net GST collections | ₹1,61,900 crore | ₹2,03,356 crore | 25.6% |
Refunds are payments returned to eligible taxpayers, including exporters and businesses entitled to input tax credits.
The slower increase in refunds compared with gross collections contributed to the faster growth in net GST revenue.
For businesses, timely refunds are important because delayed payments can affect working capital, particularly for export-oriented manufacturers.
Maharashtra Leads State GST Collections
Maharashtra remained India’s largest contributor to domestic GST revenue in October.
The state recorded collections of ₹35,150 crore, an increase of 13% compared with October 2025.
Other major states also reported positive growth.
| State | October 2026 domestic GST collection | YoY growth |
|---|---|---|
| Maharashtra | ₹35,150 crore | 13% |
| Karnataka | ₹15,922 crore | 18% |
| Gujarat | ₹13,516 crore | 16% |
| Tamil Nadu | ₹11,661 crore | 3% |
| Haryana | ₹11,529 crore | 17% |
| Uttar Pradesh | ₹10,235 crore | 24% |
| Delhi | ₹9,298 crore | 10% |
| Assam | ₹1,934 crore | 47% |
Assam recorded particularly strong annual growth, while Uttar Pradesh also reported a 24% increase.
However, growth remained uneven. Tamil Nadu recorded only 3% growth, while Himachal Pradesh reported a 2% decline in collections.
State-level GST figures provide an indication of taxable economic activity and compliance, but they should not be treated as a direct measure of state GDP growth.
April-October GST Collections Reach ₹14.78 Lakh Crore
The strong October performance also contributed to higher cumulative collections during the first seven months of FY27.
Between April and October 2026, gross GST collections reached ₹14,77,569 crore, an increase of 13.2% compared with ₹13,05,213 crore during the corresponding period of FY26.
Net GST revenue increased 12.6% to ₹12,69,486 crore.
| Particulars | April-October FY26 | April-October FY27 | Growth |
|---|---|---|---|
| Gross GST collections | ₹13,05,213 crore | ₹14,77,569 crore | 13.2% |
| Net GST collections | ₹11,27,355 crore | ₹12,69,486 crore | 12.6% |
| Total refunds | ₹1,77,858 crore | ₹2,08,083 crore | 16.9% |
The cumulative figures indicate that GST revenue continued to expand during the first seven months of the financial year.
However, October’s 22.9% growth should be viewed separately from the 13.2% cumulative increase. A single month’s performance does not establish that the same growth rate will continue throughout FY27.
What Do Higher GST Collections Mean for the Indian Economy?
GST collections are an important indicator of activity across India’s formal economy.
Higher collections can reflect increased purchases of goods and services, stronger business turnover, rising imports and improved tax compliance.
October’s figures offer several important signals.
1. Stronger tax revenue: Higher collections increase the revenue available to the central and state governments for public expenditure and fiscal management.
2. Growth in import activity: The 42.2% increase in import-related GST revenue shows that international goods transactions contributed significantly to the month’s performance.
3. Domestic economic activity remains positive: Domestic GST revenue grew 15.8%, indicating continued expansion in taxable domestic transactions.
4. Better net revenue growth: Net collections increased faster than gross collections because refunds grew at a slower pace.
However, GST revenue is not a standalone measure of economic growth. Inflation, changes in tax rates, consumption patterns, imports and compliance improvements can all influence collections.
The Bigger Picture
October’s GST performance highlights the continued expansion of India’s indirect tax base. Gross collections crossing ₹2.31 lakh crore and net revenue exceeding ₹2 lakh crore indicate a strong month for government tax receipts. The faster increase in import-related collections also demonstrates that international trade contributed significantly to the overall result.
For policymakers, the next challenge is maintaining revenue growth while monitoring the distribution of collections between domestic activity and imports. The April-October figures provide a broader picture: cumulative gross GST revenue incre
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