October GST collection hits record Rs 2.31 lakh crore, up 22.9% on year

Economic activity in the country is strengthening, and the effect is clearly visible in collections of the goods and services tax (GST). Provisional figures released by the government on Sunday show that total GST collection in October 2026 was Rs 2.31 lakh crore, against Rs 1.88 lakh crore in October 2025, a year-on-year rise of 22.9 per cent.

After deducting refunds, net GST revenue was Rs 2.03 lakh crore, compared with Rs 1.61 lakh crore in the same month last year, an increase of 25.6 per cent. The data say the surge reflects improved domestic economic activity and a good rise in taxes collected on imports.

Domestic GST collection in October grew 15.8 per cent to Rs 1.59 lakh crore. Revenue from imports grew even faster, jumping 42.2 per cent to Rs 72,246 crore. Within domestic collection, central GST (CGST) accounted for Rs 42,935 crore, state GST (SGST) for Rs 51,340 crore and integrated GST (IGST) for Rs 64,769 crore. IGST collected on imports rose from Rs 50,796 crore in October 2025 to Rs 72,246 crore this year.

Total refunds in October rose 6.5 per cent to Rs 27,934 crore, from Rs 26,225 crore in the same month last year. Domestic refunds rose 9.8 per cent to Rs 14,007 crore. Export refunds processed through ICEGATE rose 3.4 per cent to Rs 13,927 crore.

After refunds, net domestic GST collection grew 16.4 per cent to Rs 1.45 lakh crore. Net GST revenue from customs rose a sharp 56.2 per cent to Rs 58,319 crore.

Figures for the first seven months of the current financial year 2026-27, April to October, are also out. Total GST collection in this period was Rs 14.77 lakh crore, against Rs 13.05 lakh crore in the same period of the previous financial year, a rise of 13.2 per cent. Net GST revenue grew 12.6 per cent to Rs 12.69 lakh crore, from Rs 11.27 lakh crore a year earlier.

Total GST refunds between April and October 2026 rose 16.9 per cent to Rs 2.08 lakh crore. Domestic refunds grew 19.7 per cent to Rs 1.18 lakh crore, while import-related refunds rose 13.4 per cent to Rs 89,733 crore.