GST collections rise 14.7% to ₹2.04 lakh crore in September, but imports do the heavy lifting
Import-linked GST grew 25.9% while domestic collections grew 10.1%. Net revenue after refunds rose 18.1% to ₹1.77 lakh crore.
India’s gross Goods and Services Tax (GST) collections rose 14.7% year-on-year to ₹2.04 lakh crore in September 2026, up from ₹1.77 lakh crore a year earlier, according to official data released on 1 October.
The headline number is strong, but the detail tells a split story. Most of the growth came from GST collected on imports, not from spending inside the country.
The numbers
- Imports: gross GST of ₹65,525 crore, up 25.9%.
- Domestic transactions: ₹1.38 lakh crore, up 10.1% from ₹1.25 lakh crore.
- Refunds: ₹27,001 crore, down 3%.
- Net GST after refunds: ₹1.77 lakh crore, up 18.1%.
The first half of the year
From April to September 2026, gross GST collections reached ₹12.46 lakh crore, up 11.6%. Net collections were ₹10.66 lakh crore, up 10.4%. Import-linked collections grew 27.1% to ₹3.72 lakh crore, while domestic collections grew just 6.1% to ₹8.74 lakh crore.
How the states did
Maharashtra again collected the most, ₹29,986 crore, up 15%. Karnataka (₹13,884 crore, up 16%), Gujarat (₹12,222 crore, up 17%), Uttar Pradesh (₹8,882 crore, up 18%), Delhi (₹6,354 crore, up 12%) and Telangana (₹5,327 crore, up 18%) followed. Assam posted the sharpest growth among states listed, 88%, to ₹2,415 crore.
What this means for you
Higher tax collections give the Centre and the states more room to spend without borrowing more. But slower growth in domestic GST suggests that spending inside the country is rising more gently than the headline figure implies. Part of the jump in import GST also reflects a weaker rupee, which makes the same imports cost more in rupee terms.
What happens next
October’s figures, due on 1 November, will cover the start of the festive season, which usually lifts domestic sales.
Sources: Business Today.