October GST Collections Rise 23% to ₹2.31 Lakh Crore; Net Revenue Up 26%

Import-related collections increased 42.2%, while domestic GST revenue grew 15.8%, according to provisional figures released on November 1.

India’s gross Goods and Services Tax collections reached ₹2,31,290 crore in October 2026, rising 22.9% from ₹1,88,125 crore in the same month last year.

After refunds, net GST revenue increased 25.6% to ₹2,03,356 crore, compared with ₹1,61,900 crore in October 2025, according to published reporting of provisional government data released on Sunday, November 1.

The figures show growth across domestic and import-related collections, with imports recording the faster increase.

October GST collections: the key numbers

Figures are provisional. Percentage changes are rounded.

Imports account for almost half the increase

Calculations using the published figures show that gross collections increased by ₹43,165 crore over October 2025.

Domestic collections contributed ₹21,716 crore to that increase, while import-related collections added ₹21,450 crore. The component changes differ from the headline increase by ₹1 crore because of a small discrepancy in the published year-earlier totals.

Import-related GST therefore accounted for approximately half the annual increase, despite representing about 31.2% of October’s gross collections.

The distinction matters: growth in the overall GST total should not be read solely as a measure of domestic consumer spending.

Why net revenue grew faster than gross collections

Gross collections measure revenue before refunds. Net revenue deducts the refunds paid during the reporting period.

For October, the calculation is:

₹2,31,290 crore − ₹27,934 crore = ₹2,03,356 crore

Refunds increased 6.5%, substantially slower than the 22.9% increase in gross collections. That helped net revenue grow at the faster rate of 25.6%.

Domestic refunds stood at ₹14,007 crore, while export refunds processed through ICEGATE amounted to ₹13,927 crore. After these adjustments, net domestic revenue was ₹1,45,037 crore and net customs-related GST revenue was ₹58,319 crore.

Maharashtra leads state collections

Maharashtra recorded ₹35,150 crore in GST collections, an annual increase of 13%. Karnataka and Gujarat followed with ₹15,922 crore and ₹13,516 crore, respectively.

Growth rates varied considerably. A high percentage increase in a smaller state does not necessarily represent a larger rupee contribution than a more moderate increase in a bigger economy.

April–October gross revenue reaches ₹14.78 lakh crore

For the first seven months of FY27, gross GST collections totalled ₹14,77,569 crore, up 13.2% from ₹13,05,213 crore a year earlier.

Net revenue for the period increased 12.6% to ₹12,69,486 crore. October’s annual growth was therefore stronger than the cumulative growth recorded across April–October.

What the figures establish—and what they do not

The release establishes a substantial increase in nominal tax receipts. It does not, on its own, separate the effects of transaction volumes, prices, compliance, import values or collection timing.

A fuller assessment of economic activity requires these figures to be considered alongside other indicators. The provisional totals may also change slightly when finalised.