India's GST Collections Reach ₹2.31 Lakh Crore in October 2026
India's GST collections surged by nearly 23% in October, marking the highest growth rate in over four years.
GST collections hit ₹2.31 lakh crore, a 22.9% increase from last year.
Import revenues rose significantly by 42.2%, contributing to the growth.
Maharashtra led domestic collections with ₹35,150 crore, a 13% rise.
India's Goods and Services Tax (GST) collections soared to ₹2.31 lakh crore in October 2026, reflecting a remarkable year-on-year growth of 22.9%. This surge, reported on November 1, represents the fastest growth rate observed in over four years, following a more modest increase of 14.7% in September. The latest figures indicate that GST collections have now surpassed ₹2 lakh crore for four consecutive months, with October's figures being the second highest for the current financial year, trailing only behind April's ₹2.43 lakh crore.
The significant rise in GST collections was primarily driven by a notable increase in revenues from imports, which jumped 42.2% to ₹72,246 crore compared to ₹50,796 crore in October of the previous year. In contrast, domestic GST revenues experienced a slower growth rate of 15.8%, amounting to ₹1.59 lakh crore, up from ₹1.37 lakh crore in the same month last year. Additionally, net GST revenue rose by 25.6% to ₹2.03 lakh crore, compared to ₹1.62 lakh crore in October 2025.
Refunds during the month also saw an increase, rising 6.5% to ₹27,934 crore, although this growth was considerably slower than that of gross collections. The upward trend in tax revenue growth has been consistent over the past few months, with GST collections growing by 13.9% in June, 15.4% in July, 14.3% in August, and 14.7% in September before the sharp rise in October.
For the first half of the financial year 2026-27, cumulative gross GST collections reached ₹14.78 lakh crore, marking a 13.2% increase from ₹13.05 lakh crore during the same period last year. Net collections for the first seven months of the financial year also rose by 12.6% to ₹12.69 lakh crore, indicating a robust fiscal environment.
Among the states, Maharashtra continued to be the largest contributor to domestic GST collections, with a revenue increase of 13% to ₹35,150 crore in October. Karnataka followed with ₹15,922 crore, an 18% rise, while Gujarat's collections grew by 16% to ₹13,516 crore. Uttar Pradesh exhibited a strong growth of 24%, reaching ₹10,235 crore, while Delhi's collections increased by 10% to ₹9,298 crore. However, the growth was not uniform across all states, with Tamil Nadu's collections rising only 3% to ₹11,661 crore and Himachal Pradesh experiencing a 2% decline.
