GST collections surge to ₹2.32 lakh crore in October

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The data shows collections from domestic source rise to around ₹1.59 lakh crore, recording an increase of around 16%

By Shishir Sinha

Updated - November 02, 2026 at 12:04 AM. | New Delhi

Driven by festive restocking and robust sales, Goods & Services Tax (GST) collections reached ₹2.31 lakh crore in October, according to data released by the GST portal on Sunday.

This is nearly 23 per cent higher than October 2025. Collections in October are related to goods consumed and services availed in September.

According to the data, collections from domestic sources rose to around ₹1.59 lakh crore, recording an increase of around 16 per cent. Collections from imported sources rose over 42 per cent to over ₹72,000 crore. During the month under consideration, refund was just around ₹28,000 crore, which is 6.5 per cent higher than October last year. On account of this, net collections were over ₹2 lakh crore, around 26 per cent higher.

Vivek Jalan, Partner at Tax Connect Advisory Services, said the trend in collections from domestic source is a strong indicator of rising consumption demand, higher economic activity and a broad-based strengthening of India’s GDP growth momentum. At the same time, increase in GST collections from imports suggests increased procurement of raw materials and intermediate goods, reflecting expansion in domestic manufacturing and capacity utilisation. “These trends collectively point towards a virtuous cycle of consumption, production and investment that is strengthening India’s fiscal position through buoyant indirect tax collections,” he said.

“October collections capture the festive-season demand cycle, which typically brings higher consumer spending, retail activity and movement of goods across sectors,” said Manoj Mishra, Partner at Grant Thornton Bharat. Further, he said the distinction between collections from domestic and import sources is important when assessing the headline growth, as import collections can be influenced by changes in import volumes, commodity prices and the value of imported goods. “The growth in domestic revenue, therefore, remains an important indicator to watch when evaluating the underlying momentum in the economy,” he said.

Better compliance

Saurabh Agarwal, Tax Partner at EY India, highlighted the steady month-on-month rise in revenue indicating strong underlying consumption and improving compliance. “At the same time, the sustained growth in import-linked collections underscores the need to further push domestic manufacturing capabilities. While the Production Linked Incentive schemes have delivered encouraging outcomes in select sectors, it may be time to revisit and recalibrate schemes in certain sectors with unutilised budgets, so that they better support the larger objective of an Atmanirbhar Bharat,” he said.

The expectation is that the collections will continue to see an upward trend. “While the gross GST collections have crossed ₹2 lakh crore many times in recent months, the festive season consumption boom has resulted in the net GST collections crossing the magical figure of ₹2 lakh crore as well. Since the festive season is ongoing, this robustness is expected to continue as it ties with leading macroeconomic indicators all of which point to a domestic consumption driven economy, growing at a steady pace, not significantly impacted by global headwinds,” said MS Mani, Partner, Deloitte India.

Ikesh Nagpal, Lead, Indirect Taxation at AKM Global, said GST is increasingly serving not just as a revenue instrument but also as a reflection of economic formalisation and business activity. “The 57th GST Council’s recommendations on faster refunds, simplified registration, improved ITC mechanisms and streamlined compliance can further strengthen this ecosystem by reducing working capital pressures and improving ease of doing business,” he concluded.

Published on November 1, 2026

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