💰 Economy
GST collections jump 22.9% to ₹2.31 lakh crore in October as import revenue soars
In 60 seconds: India's gross GST collections rose 22.9% in October 2026 to ₹2.31 lakh crore, up from ₹1.88 lakh crore a year earlier, provisional data showed. GST on imports grew fastest, rising 42.2% to ₹72,246 crore, while domestic collections rose 15.8% to ₹1.59 lakh crore. After refunds of ₹27,934 crore, net collections stood at ₹2.03 lakh crore, up 25.6%.
Why it matters
GST is the biggest tax that the Centre and states share. Higher collections mean more money for both to spend, and they also signal how busy trade and spending are.
Explain it simply
Think of a society's monthly maintenance box. When more flats pay on time, the box fills up faster, and both the society office and the building's repair fund get more.
The 3-minute read
What happened
Among states, Maharashtra collected the most domestic GST at ₹35,150 crore, up 13%. Karnataka collected ₹15,922 crore (up 18%) and Gujarat ₹13,516 crore (up 16%). Assam grew 47%, while Uttar Pradesh and Bihar each grew 24%.
Background
GST replaced many central and state taxes on goods and services. Every month the government releases provisional figures for gross collections, refunds paid back to businesses, and the net amount that remains.
How it works
Gross collection is all GST paid in the month. Refunds, mostly to exporters and to firms that paid extra tax on inputs, are then subtracted to get net collection. GST on imports is collected at the border as integrated GST.
What's next
For April–October 2026, gross collections have reached ₹14.77 lakh crore, up 13.2%, and net collections ₹12.69 lakh crore, up 12.6%. The November figures are due at the start of December.
What it means for you
Strong GST revenue gives the Centre and states more room to fund roads, schools and welfare schemes without borrowing as much.
Key numbers
- ₹2.31 lakh crore: Gross GST in October 2026
- 22.9%: Growth over October 2025
- ₹72,246 crore: GST on imports, up 42.2%
- ₹2.03 lakh crore: Net GST after refunds
Both sides
- Revenue picture: Collections grew on both counts: domestic GST rose 15.8% and net revenue rose even faster, at 25.6%.
- A closer look: A large part of the jump came from GST on imports, which grew 42.2%, much faster than domestic collections.
Key terms explained
- Gross GST collections
- The total GST paid in a month, before any refunds are given back.
- Net collections
- What the government keeps after paying refunds to businesses.
The story so far
- Oct 2025: Gross GST collections for the month stand at ₹1.88 lakh crore. October 2025 is the comparison month for the new data. Gross collections then were ₹1.88 lakh crore and net collections, after refunds, were ₹1.61 lakh crore.
- 1 Nov 2026: October 2026 gross GST rises 22.9% to ₹2.31 lakh crore. Provisional data showed GST paid on imports rising 42.2% and domestic GST rising 15.8%. Net collections rose 25.6% to ₹2.03 lakh crore.
- Today: October GST rises 22.9% to ₹2.31 lakh crore; net up 25.6%
Exam notes (UPSC, SSC, Banking, PSC)
- GST came into force on 1 July 2017 through the 101st Constitutional Amendment Act, 2016.
- Article 279A provides for the GST Council, chaired by the Union Finance Minister.
- Integrated GST (IGST) is levied on inter-state supplies and on imports.
- Petrol, diesel, ATF, crude oil and natural gas are still outside GST.
Likely exam question: How has GST changed the sharing of tax revenue between the Centre and the states? Discuss with reference to the GST Council.