Gross GST collections rose 23% to ₹2.31 lakh crore in October 2026. This figure represents the second-highest monthly collection recorded in the current financial year, trailing only the ₹2.43 lakh crore mop-up seen in April.
Government data indicates that festive buying supported domestic demand during the month. The 22.9 per cent year-on-year growth rate marks the fastest pace of gross mop-up recorded in the current fiscal year. Domestic sales contributed over ₹1.59 lakh crore to the total, while revenues from imports climbed to ₹72,246 crore. The total revenue includes Central GST of ₹42,935 crore, State GST of ₹51,340 crore, and Integrated GST of over ₹1.37 lakh crore.
GST refunds increased 6.5 per cent year-on-year to ₹27,934 crore for the month. After adjusting for these refunds, net GST collections rose 26 per cent to over ₹2.03 lakh crore. For the period between April and October of FY27, cumulative gross GST collections reached ₹14.77 lakh crore. This represents a 13.2 per cent increase over the ₹13.05 lakh crore recorded during the same period in the previous year. Net GST collections for these first seven months rose 13 per cent to ₹12.69 lakh crore.
Based on company and agency reports. For information only; not investment advice.