India’s Goods and Services Tax (GST) collections surged 23 per cent year-on-year to more than Rs 2.31 lakh crore in October 2026, government data released on Sunday showed, marking the second-highest monthly mop-up on record and the fastest growth in more than four years.
The October figure was second only to the record of about Rs 2.43 lakh crore collected in April, and it extended a run of strong months: October was the fourth consecutive month in which gross collections crossed Rs 2 lakh crore. The 22.9 per cent year-on-year growth was the quickest pace recorded in the current financial year, accelerating sharply from 14.7 per cent growth in September.
Festive buying and restocking by traders ahead of the festival season lifted domestic demand, while a sharp jump in tax collected on imports added further momentum. October’s collections relate to goods consumed and services availed in September, according to data published on the GST portal.
Key Takeaways
- Gross GST collections rose 23 per cent year-on-year to over Rs 2.31 lakh crore in October 2026, the second-highest monthly total on record.
- Domestic GST revenue grew about 16 per cent to over Rs 1.59 lakh crore, while revenue from imports jumped 42 per cent to Rs 72,246 crore.
- After refunds of Rs 27,934 crore, net GST collections stood at over Rs 2.03 lakh crore, up 26 per cent from a year earlier.
What the October numbers show
The gross collection of over Rs 2.31 lakh crore in October compares with about Rs 1.88 lakh crore in October 2025. The breakdown shows Central GST of Rs 42,935 crore, State GST of Rs 51,340 crore and Integrated GST of more than Rs 1.37 lakh crore.
Growth has been building through the financial year. GST collections grew 13.9 per cent in June, 15.4 per cent in July, 14.3 per cent in August and 14.7 per cent in September, before accelerating to 22.9 per cent in October. That acceleration made October the strongest month for growth since September 2022, and the second-highest collection in the current financial year after April.
October was the fourth consecutive month in which gross collections crossed Rs 2 lakh crore.
Domestic sales and imports drove the surge
Domestic transactions remained the larger contributor, with gross domestic GST revenue rising 15.8 per cent to Rs 1.59 lakh crore from Rs 1.37 lakh crore a year earlier. But the sharper movement came from imports: GST revenue from imports surged 42.2 per cent year-on-year to Rs 72,246 crore, up from Rs 50,796 crore in October last year.
That combination — steady domestic growth and a much faster rise in import-related revenue — explains why overall growth jumped so sharply in October. Festive restocking typically lifts both consumption and imports in the weeks before the festival season, and the October data reflects that pattern.
- Gross GST: over Rs 2.31 lakh crore, up 22.9 per cent year-on-year
- Domestic revenue: Rs 1.59 lakh crore, up 15.8 per cent
- Import revenue: Rs 72,246 crore, up 42.2 per cent
- Refunds: Rs 27,934 crore, up 6.5 per cent
- Net GST: over Rs 2.03 lakh crore, up 25.6 per cent
- April-October gross GST: Rs 14.77 lakh crore, up 13.2 per cent
Net collections and the April-October picture
After adjusting for refunds, net GST collections rose 26 per cent to over Rs 2.03 lakh crore in October, compared with about Rs 1.61 lakh crore in the same month last year. Refunds of Rs 27,934 crore grew only 6.5 per cent, considerably slower than gross collections, which helped lift the net figure.
For the first seven months of the financial year, from April to October, gross GST collections grew 13.2 per cent to over Rs 14.77 lakh crore, up from Rs 13.05 lakh crore in the corresponding period last year. Net collections for the same period rose about 13 per cent to over Rs 12.69 lakh crore.
Among states, Maharashtra recorded the highest GST revenue in October at Rs 35,150 crore, up 13 per cent from Rs 31,013 crore a year ago, while Kerala’s collections rose 23 per cent year-on-year to Rs 3,486 crore.
Why the festive season mattered
The October surge arrived alongside a busy start to November for households and businesses in India. A set of new rules that took effect in India on November 1 covers areas including LPG, caller identification, FASTag and mutual funds, adding to the sense of a fast-moving month for consumers. The GST data itself, however, points to activity from September, when festive stocking was already under way.
The broader economic backdrop is mixed elsewhere in the world. France’s economy shrank in the third quarter as inflation pressures continued, a contrast with India’s accelerating tax collections. Tax data is only one gauge of an economy, but a 23 per cent rise in collections, led by both domestic sales and imports, signals that spending and trade activity held up strongly through the festive period.
What to Watch Next
The next monthly GST release will show whether the festive momentum carried into November or whether October’s sharp acceleration eases back toward the mid-teens growth seen earlier in the financial year. Refunds, import revenue and state-wise collections will again be the figures to watch, along with the cumulative April-October trend that already stands 13.2 per cent higher than last year. For now, October stands as the second-highest GST month on record, with net collections above Rs 2 lakh crore for a month driven by festive demand and stronger import revenue.