NEW DELHI, November 2, 2026: India’s gross Goods and Services Tax (GST) collections rose 22.9% to ₹2,31,290 crore in October 2026, while net revenue after refunds increased 25.6% to ₹2,03,356 crore, according to provisional government data released on November 1. Both domestic and import-linked GST collections increased, although revenue from imports grew considerably faster.
The official figures show that gross GST revenue increased by ₹43,165 crore from ₹1,88,125 crore in October 2025, on a comparison basis excluding compensation cess. Import-linked GST accounted for nearly half of this additional revenue, highlighting an important difference between the headline growth in collections and the sources contributing to it.
GST collected on imported goods increased 42.2% to ₹72,246 crore from ₹50,796 crore a year earlier. Domestic GST collections, meanwhile, rose 15.8% to ₹1,59,044 crore from ₹1,37,328 crore. In absolute terms, import-linked revenue increased by ₹21,450 crore, compared with a rise of ₹21,716 crore in domestic collections.
As a result, imports accounted for approximately 31% of total gross GST revenue in October 2026, compared with about 27% a year earlier. Domestic transactions continued to contribute the larger share of collections, but the two sources accounted for almost equal portions of the additional revenue collected during the month.
The difference matters because GST collections offer an indication of taxable economic activity but do not directly measure economic growth. Higher domestic collections may reflect increases in sales, prices, changes in tax rates or improved compliance. Similarly, import-linked revenue can be influenced by the value and composition of imported goods, currency movements and changes in the applicable tax burden.
The 42.2% increase in import-linked GST therefore does not necessarily mean that India’s physical import volumes increased by the same proportion. The latest revenue report does not separately establish how much of the increase resulted from higher import volumes, prices or changes in the composition of imports.
Another important feature of the October figures is that net GST revenue grew faster than gross collections. Gross GST represents tax collected before refunds, while net GST is calculated after eligible refunds have been deducted.
Total GST refunds increased 6.5% to ₹27,934 crore in October 2026 from ₹26,225 crore a year earlier. Because gross revenue grew considerably faster than refunds, net collections increased 25.6%, exceeding the 22.9% rise in gross collections.
The difference was particularly pronounced in import-related revenue. Net GST receipts from imports increased 56.2% to ₹58,319 crore, while net domestic GST revenue rose 16.4% to ₹1,45,037 crore. This shows that the stronger growth in import-linked collections remained evident even after refunds were accounted for.
However, net GST collections should not be confused with the amount retained exclusively by the Union government. India’s GST framework includes Central GST (CGST), State GST (SGST) and Integrated GST (IGST), with revenues allocated between the Centre and states through the applicable settlement arrangements.
There is also an important qualification to the year-on-year comparison. The government’s original October 2025 GST release had reported gross collections of ₹1,95,936 crore, including ₹7,812 crore in compensation cess, a separate tax originally introduced to compensate states for revenue losses following the introduction of GST. The latest October 2026 report uses ₹1,88,125 crore as the comparable October 2025 figure, excluding compensation cess.
A similar difference applies to net collections. The original October 2025 release reported net GST revenue of ₹1,69,002 crore, while the October 2026 report uses ₹1,61,900 crore as the year-earlier comparison. The latest growth rates of 22.9% for gross collections and 25.6% for net collections are based on the figures presented in the new report, rather than the earlier totals that included compensation cess.
The broader financial-year figures provide a more moderate picture of GST revenue growth. Between April and October 2026, gross collections reached ₹14,77,569 crore, an increase of 13.2% from the corresponding period of the previous financial year. Net collections rose 12.6% to ₹12,69,486 crore.
The difference between domestic and import-linked revenue is visible across this seven-month period as well. Gross domestic GST collections increased 7.4% to ₹10,33,411 crore, while GST revenue from imports rose 29.3% to ₹4,44,158 crore.
This indicates that import-linked revenue grew considerably faster than domestic collections over the April–October period as a whole, rather than the difference emerging only in October. At the same time, the seven-month growth rates are substantially lower than the increases reported for October alone, making it important not to treat one month’s performance as representative of the entire year.
The state-wise figures reveal uneven growth in domestic GST collections. Maharashtra recorded ₹35,150 crore in October, an increase of 13% from a year earlier, while Karnataka’s collections rose 18% to ₹15,922 crore. Gujarat reported ₹13,516 crore, up 16%, and Uttar Pradesh recorded 24% growth to ₹10,235 crore.
Assam registered an increase of 47% to ₹1,934 crore, while Uttarakhand’s collections rose 11% to ₹1,776 crore. Tamil Nadu recorded a comparatively modest 3% increase to ₹11,661 crore. These state-wise figures exclude GST on imported goods and should not be confused with the revenue ultimately allocated to states after settlement of Integrated GST.
The timing of GST collections is another factor in understanding what the figures indicate about economic activity. Domestic GST payments received in October largely relate to transactions reported for September, while GST on imported goods is generally collected at the point of import. October’s revenue figures therefore cannot be treated as a direct measure of retail spending or industrial activity during October itself.
The year-on-year comparison also follows changes to India’s GST rate structure in September 2025. The GST Council recommended a simplified rate structure centred on 5% and 18%, alongside a special 40% rate for specified goods and services. Most revised rates took effect on September 22, 2025.
Changes in tax rates and purchasing patterns around their implementation are relevant when interpreting revenue growth. However, the October 2026 collections report does not quantify their individual effects, making it difficult to determine how much of the increase reflects changes in underlying economic activity rather than changes in taxation or the timing of transactions.
For government finances, the increase in net GST collections indicates stronger revenue mobilisation during the month. For the broader economy, the picture is more nuanced. Domestic receipts increased, but import-linked collections accounted for a disproportionately large share of the growth, while cumulative revenue for April–October expanded more slowly than October’s headline figure.
The government has identified the latest GST numbers as provisional, meaning they may change upon finalisation. Subsequent collections data, alongside indicators of consumption, industrial production and imports, will help establish whether October’s sharp increase represents a sustained improvement in underlying economic activity.
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