India's Net GST Collections Surge 25.6% to ₹2.03 Trillion in October 2026 as Import Revenue Drives Growth

India's GST collections saw a sharp increase in October 2026, with net revenue reaching ₹2.03 trillion after refunds, as per news reports. This was 25.6% higher than the collection in October last year and the fastest growth recorded in FY27 so far. Gross GST collections also rose 22.9% to ₹2.31 trillion. 

The increase was largely supported by taxes collected on imports. Domestic GST revenue grew as well, although the rise was more moderate. 

Import-Linked Collections Record Strong Growth 

Gross GST revenue from imports increased 42.2% year-on-year to ₹72,246 crore in October. After adjusting for refunds, net collections from imports stood at ₹58,319 crore, marking a 56.2% rise. 

Domestic collections followed a slower pace. Gross domestic GST revenue grew 15.8% to ₹1.59 trillion, while net collections increased 16.4% to ₹1.45 trillion.

The October numbers also show a considerable improvement over the same month last year, when net GST revenue grew by just 0.6%.  

However, the previous year's collection was affected by the anticipation of GST rate cuts and their implementation in the fourth week of September. 

GST Collections Reach ₹14.78 Trillion Between April and October 

The growth in October added to the government's overall GST revenue for FY27. During April to October, gross collections reached ₹14.78 trillion, compared with ₹13.05 trillion in the corresponding period last year, registering growth of 13.2%. 

Net GST collections increased 12.6% to ₹12.69 trillion from ₹11.27 trillion. 

Import-related revenue continued to grow faster than domestic collections during this period. Gross GST from imports rose 29.3% to ₹4.44 trillion, while domestic gross collections increased 7.4% to ₹10.33 trillion.

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Conclusion 

October 2026 GST revenue growth was led by a sharp rise in import-linked collections. Net collections reached ₹2.03 trillion, while cumulative gross revenue for the first seven months of FY27 stood at ₹14.78 trillion. 

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