GST Revenue Rises 18.1% to ₹1.77 Trillion in September on Higher Import Tax Collections

GST collections of the Centre and states, after refunds, grew 18.1% to ₹1.77 trillion in September. This was the fastest growth in six months, with higher import-linked tax revenue playing a major role. 

The latest numbers have also pushed net GST revenue growth to around 14% in the September quarter, compared with about 7% in the June quarter. 

Import-Linked GST Revenue Jumps 

IGST revenue from imports before refunds stood at ₹65,525 crore in September, up nearly 26% from a year earlier. It made up around one-third of the total gross GST collection of ₹2.04 trillion. 

After refunds, net GST revenue from imports rose 30.8% to ₹52,028 crore. Import-linked GST accounted for 29% of net GST collections in September, compared with 21.7% in April. 

Domestic GST Collections Also Rise 

Gross domestic GST revenue increased 10.1% to ₹1.38 trillion in September. After refunds, net domestic GST revenue rose 13.5% to ₹1.24 trillion. 

Gross GST revenue rose 14.7% year-on-year to ₹2.04 trillion in September, crossing the ₹2-trillion mark for the third time in six months. 

Customs Revenue Up 28% 

Customs duty revenue of the central government increased 28% during April-August to ₹1.06 trillion. This is higher than the 5% customs duty growth projected by the Centre for FY27 in the Budget. 

Higher imports of capital goods, components and other inputs, including those linked to mobile-phone manufacturing, power and defence, also contributed to the rise in import-related revenue. 

Refunds Fall in September 

Total GST refunds stood at ₹27,001 crore in September, down 3% from ₹27,848 crore a year earlier. 

Domestic refunds fell 13.5% to ₹13,504 crore, while refunds related to exports through ICEGATE rose 10.2% to ₹13,497 crore. 

During April-September, gross GST revenue increased 11.6% to ₹12.46 trillion. Net GST revenue rose 10.4% to ₹10.66 trillion. 

Read More: Government Approves Green Energy Corridor Phase III with ₹1.86 Lakh Crore Outlay for Renewable Energy! 

Conclusion 

GST collections showed stronger growth in September, with net revenue rising 18.1% to ₹1.77 trillion. Higher taxes from imports were a key part of the increase, while domestic GST revenue also grew at a steady pace. The stronger September numbers have taken net GST revenue growth for the September quarter to around 14%, compared with about 7% in the June quarter. 

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