Domestic collections reached nearly Rs 1.6 lakh crore, while integrated tax receipts from imported goods jumped 42% on the back of higher commodity prices and early festive spending. Even after accounting for a 6.5% rise in tax refunds, overall net revenues climbed 25.6% to clear the Rs 2 lakh crore mark. Revenue expansion was widespread across the country, though four states including Odisha and Chhattisgarh recorded contractions during the period.
Key points
Robust fiscal inflows provide the central government with resources to counter rising sub…: Robust fiscal inflows provide the central government with resources to counter rising subsidies from the West Asia conflict.
Nearly all regions posted revenue gains, led by a 32% rise in Meghalaya and 30% in Himach…: Nearly all regions posted revenue gains, led by a 32% rise in Meghalaya and 30% in Himachal Pradesh.
Strong festive demand, stricter tax audits, and elevated commodity prices were the primar…: Strong festive demand, stricter tax audits, and elevated commodity prices were the primary drivers behind the rapid mop-up expansion.
Sources checked by our analysis pipeline: 1
NEW DELHI: GST collections grew 22.9% in Oct – the fastest pace of expansion since the revamp of the tax regime in Sept 2025 – to reach Rs 2.3 lakh crore, the second-highest monthly mop-up since the rationalisation exercise. While consumption remains strong, the numbers indicate a bunching of quarter-end demand and the base effect as sales had slowed in Sept 2025 in anticipation of lower rates kicking in from Sept 22
The numbers for Oct 2026, based on transactions in Sept, pegged domestic GST collection growth at 15.8% to just under Rs 1.6 lakh crore, while integrated GST on imports jumped 42% to Rs 72,246 crore. Analysts see the increase in GST on imports as a result of higher commodity prices, although there was also a word of caution given that there has been a rising trend in recent months.
Refunds rose 6.5% to Rs 27,934 crore, and net collections were 25.6% higher at over Rs 2 lakh crore.
All states except four report higher GST collections, with Meghalaya and Himachal Pradesh leading growth.
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