GST collections jump 23% to ₹2.31 lakh crore in October, fastest growth in over four years

India's gross Goods and Services Tax (GST) collections rose 22.9 per cent year-on-year to ₹2.31 lakh crore in October 2026, registering their fastest growth in more than four years, according to government data released on Sunday. The increase was driven by a sharp rise in revenue from imports and steady growth in domestic transactions.

The October collection of ₹2,31,290 crore was up from ₹1,88,125 crore in the corresponding month last year. It also marked the fourth consecutive month in which gross GST collections remained above ₹2 lakh crore.

Import revenue drives October's GST growth

Gross GST collections from domestic sales increased 15.8 per cent to ₹1.59 lakh crore, compared with ₹1.37 lakh crore in October last year. Revenue from imports recorded a stronger increase of 42.2 per cent to ₹72,246 crore, against ₹50,796 crore a year earlier.

The total collection comprised Central GST (CGST) of ₹42,935 crore, State GST (SGST) of ₹51,340 crore and Integrated GST (IGST) of around ₹1.37 lakh crore. The IGST figure included ₹64,769 crore from domestic transactions and ₹72,246 crore from imports.

Maharashtra remained the largest contributor to domestic GST collections among states, with revenue rising 13 per cent to ₹35,150 crore. Karnataka recorded an 18 per cent increase to ₹15,922 crore, while Gujarat's collections grew 16 per cent to ₹13,516 crore.

Net GST collections rise 25.6 per cent

GST refunds increased 6.5 per cent year-on-year to ₹27,934 crore in October, compared with ₹26,225 crore in the corresponding month last year.

After adjusting for refunds, net GST collections rose 25.6 per cent to ₹2,03,356 crore, from ₹1,61,900 crore a year earlier. Net revenue from domestic transactions increased 16.4 per cent to ₹1.45 lakh crore, while net collections from customs-related GST rose 56.2 per cent to ₹58,319 crore.

April-October collections grow 13.2 per cent

During the April-October period of the current financial year, gross GST collections increased 13.2 per cent to ₹14.77 lakh crore, compared with ₹13.05 lakh crore in the corresponding period of the previous financial year.

Net GST collections during the seven-month period rose 12.6 per cent to ₹12.69 lakh crore, against ₹11.27 lakh crore a year earlier.

The October figures indicate an acceleration in GST revenue growth after collections expanded by 14.7 per cent in September, with the sharp increase in import-related revenue providing a significant boost to the overall numbers.