GST Windfall: October Collections Surge 22.9% to Rs 2.31 Lakh Crore
India's gross GST collections jumped 22.9% to Rs 2.31 lakh crore in October, driven by a massive surge in import revenues and domestic growth.
India has recorded a significant jump in its indirect tax earnings, with October GST collections soaring by 22.9 per cent year-on-year. According to provisional data released by the Ministry of Finance, gross collections for the month reached a staggering Rs 2.31 lakh crore, a sharp climb from the Rs 1.88 lakh crore recorded in October of the previous year.
The momentum extended to net revenue as well. After accounting for refunds, the net GST revenue grew by 25.6 per cent, hitting Rs 2.03 lakh crore compared to Rs 1.61 lakh crore in the same period last year.
The Drivers of Growth: Imports and Domestic Trade
A major catalyst for this spike was the revenue generated from imports, which witnessed a massive 42.2 per cent increase. Import-related collections climbed to Rs 72,246 crore, up from Rs 50,796 crore a year ago.
Domestic GST revenue also showed strong performance, growing by 15.8 per cent to reach Rs 1.59 lakh crore. A detailed breakdown of the domestic collections reveals the following:
- Central GST (CGST): Rs 42,935 crore
- State GST (SGST): Rs 51,340 crore
- Integrated GST (IGST) from domestic transactions: Rs 64,769 crore
Refunds and Net Revenue Breakdown
While collections rose, so did the payouts. Total refunds for October saw a 6.5 per cent year-on-year increase, totaling Rs 27,934 crore. This was split between domestic refunds, which rose 9.8 per cent to Rs 14,007 crore, and import refunds, which increased by 3.4 per cent to Rs 13,927 crore.
On a net basis, the domestic GST revenue grew by 16.4 per cent to Rs 1.45 lakh crore, while net revenue from customs-related GST collections saw a dramatic surge of 56.2 per cent, reaching Rs 58,319 crore.
State-Wise Performance: Assam Leads the Charge
Across the states, the growth was widespread, though some regions outperformed others. Assam emerged as one of the strongest performers, recording a massive 47 per cent increase in collections to reach Rs 1,934 crore. Uttar Pradesh and Bihar also showed robust growth, both registering a 24 per cent increase.
Other major states also reported healthy gains:
- Karnataka: 18 per cent increase (Rs 15,922 crore)
- Haryana: 17 per cent increase (Rs 11,529 crore)
- Gujarat: 16 per cent increase (Rs 13,516 crore)
- Maharashtra: 13 per cent increase (Rs 35,150 crore)
Cumulative Growth for the Financial Year
The positive trend is evident in the cumulative data for the current financial year. From April to October 2026-27, gross GST collections have increased by 13.2 per cent, totaling Rs 14.77 lakh crore, compared to Rs 13.05 lakh crore in the same period last year.
Similarly, the net GST revenue for these seven months rose by 12.6 per cent, reaching a total of Rs 12.69 lakh crore.