Business EconomyPosted at: Nov 1 2026 4:40PM

New Delhi, Nov 1 (UNI) India's Goods and Services Tax (GST) collections registered strong growth in October, rising 22.9 per cent year-on-year to over Rs 2.31 lakh crore, as festive-season consumption boosted economic activity and tax revenues.
The latest collection is the second-highest monthly GST revenue recorded since the introduction of the indirect tax regime, according to government data.
October marked the second consecutive month in which gross GST revenues exceeded the Rs 2 lakh crore threshold. The collection was higher only than the all-time record of approximately Rs 2.43 lakh crore registered in April.
At 22.9 per cent, the year-on-year growth was also the fastest recorded in the current financial year, indicating sustained momentum in consumption and economic activity.
GST revenues from domestic sales increased 16 per cent year-on-year to more than Rs 1.59 lakh crore. Meanwhile, collections from imported goods witnessed a sharper expansion of 42 per cent to Rs 72,246 crore, reflecting higher tax realisations from imports.
The October gross GST collection comprised Central GST (CGST) revenue of Rs 42,935 crore, state GST (SGST) of Rs 51,340 crore and Integrated GST (IGST) collections exceeding Rs 1.37 lakh crore.
The government's net GST revenue also witnessed a substantial increase after accounting for refunds issued during the month. GST refunds rose 6.5 per cent year-on-year to Rs 27,934 crore in October.
After adjusting for these refunds, net GST collections climbed 26 per cent to more than Rs 2.03 lakh crore, compared with the corresponding period last year. The faster growth in net collections suggests that the government's tax receipts remained strong even after accounting for refunds to businesses and exporters.
The October performance comes amid increased consumer spending during the festive period, when demand typically rises across sectors such as automobiles, consumer durables, electronics, apparel and other discretionary goods. Higher sales during the festive season tend to translate into improved GST collections through increased taxable transactions.
Between April and October 2026, gross GST collections increased 13.2 per cent year-on-year to more than Rs 14.77 lakh crore. Net GST revenue during the same period rose 13 per cent to over Rs 12.69 lakh crore.
The latest numbers also come after the government's GST rate rationalisation measures, which were aimed at simplifying the indirect tax structure and providing relief to consumers across several product categories.
UNI VK ATP AAB