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GST Collections Soar to ₹2.04 Lakh Crore in September, Marking Third Consecutive Month Above ₹2 Lakh Crore
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CNBC TV18•01-10-2026, 11:53
GST Collections Soar to ₹2.04 Lakh Crore in September, Marking Third Consecutive Month Above ₹2 Lakh Crore
- •India's gross Goods and Services Tax (GST) collections reached ₹2.04 lakh crore in September, a 14.7% year-on-year increase, staying above the ₹2 lakh crore mark for the third consecutive month.
- •Domestic transactions contributed ₹1.38 lakh crore, growing 10.1%, while GST revenue from imports surged 25.9% to ₹65,525 crore.
- •Manoj Mishra of Grant Thornton Bharat noted the strength in import-linked GST collections but cautioned against interpreting it solely as stronger domestic consumption.
- •Net GST collections grew faster than gross revenue, rising 18.1% year-on-year to over ₹1.76 lakh crore, partly due to a 3% decline in refunds.
- •For the first six months of the financial year, gross GST collections increased 11.6% to ₹12.46 lakh crore, with the upcoming 57th GST Council meeting expected to address reforms in input tax credit, registration, refunds, and compliance processes.
Key Questions Answered
India's gross GST collections for September 2026 rose 14.7% year-on-year to reach ₹2.04 lakh crore, staying above the ₹2 lakh crore mark for the third consecutive month.
Gross GST revenue from domestic transactions rose 10.1% year-on-year to about ₹1.38 lakh crore in September 2026, while revenue from imports grew at a much faster rate of 25.9% to reach ₹65,525 crore.
Net GST collections grew faster than gross revenue in September 2026, rising 18.1% year-on-year to over ₹1.76 lakh crore, which was partly supported by a 3% decline in total refunds to ₹27,001 crore.
