GST Collections Stay Near ₹2 Lakh Crore In May, Import Tax Revenue Jumps 19%, Government Sees Steady Growth

New Delhi: India's Goods and Services Tax (GST) collections remained close to the Rs 2 lakh crore mark in May 2026, reflecting steady economic activity despite geopolitical tensions in West Asia.

According to government data released on Monday, gross GST collections stood at Rs 1,94,184 crore in May. This was 3.2 percent higher than Rs 1,88,172 crore collected in the same month last year.

Net GST collections, after adjusting for refunds, came in at Rs 1,66,904 crore, registering a growth of 3.3 percent on a year-on-year basis.

Refunds Rise During the Month

The government issued GST refunds worth Rs 27,281 crore in May, up 2.6 percent compared to the year-ago period.

After adjusting for these refunds, gross GST revenue growth for May 2026 was estimated at around 9 percent. Adjusted net GST revenue growth stood at nearly 10 percent, indicating that tax collections remained healthy despite some base-related factors.

Domestic Collections Dip, Imports Show Strength

Gross domestic GST revenue during the month stood at Rs 1,34,530 crore, which was 2.6 percent lower than the corresponding period last year.

However, tax collections from imports showed strong growth. Revenue from imported goods rose 19.1 percent year-on-year to Rs 59,654 crore, highlighting continued strength in import-related economic activity.

The sharp rise in import tax collections helped support overall GST revenue during the month.

Impact of One-Time Telecom Payment

The government noted that GST collections in May 2025 had included a one-time payment of nearly Rs 10,000 crore made by a telecom operator for spectrum allocation.

Excluding this exceptional payment, the growth in GST collections during May 2026 appears stronger. Adjusted figures show that overall GST revenue growth remained robust despite the high base of the previous year.

April Sets Record, Two-Month Collections Grow

GST collections had touched a record high of Rs 2,42,702 crore in April 2026, registering an 8.7 percent annual increase.

For the first two months of FY27, gross GST collections rose 6.2 percent to Rs 4.37 lakh crore. Net GST revenue during the same period increased 5.5 percent to Rs 3.78 lakh crore, reflecting stable tax receipts and continued economic momentum.