GST Collections Reach ₹2.31 Lakh Crore in October 2026 as Import Revenue Jumps 42%
India's gross Goods and Services Tax (GST) collection for October 2026 was ₹2,31,290 crore (about ₹2.31 lakh crore, or ₹2.31 trillion). This is 22.9% higher than ₹1,88,125 crore in October 2025.
GST collected on imports rose about 42% to ₹72,246 crore, from ₹50,796 crore a year earlier. Imports made up nearly one-third of the month's total.
Domestic gross revenue (tax on sales inside India) grew 15.8% to ₹1,59,044 crore.
Refunds paid to taxpayers were ₹27,934 crore, up 6.5%. After refunds, net GST revenue was ₹2,03,356 crore, up 25.6%.
By component: CGST ₹42,935 crore, SGST ₹51,340 crore and IGST ₹1,37,015 crore (of which ₹72,246 crore came from imports).
From April to October 2026, gross GST collection was ₹14,77,569 crore, up 13.2% over the same months of the last year.
Goods and Services Tax (GST): Constitutional Framework and Structure
GST is a single tax on the supply of goods and services across India. It started on 1 July 2017 and replaced many separate central and state taxes. It is split into four parts: CGST (goes to the Centre), SGST/UTGST (goes to the state or union territory) and IGST (on trade between states and on imports). Because GST is a destination-based tax, the money finally goes to the state where the goods are used, not where they are made.
In October 2026, IGST alone was ₹1,37,015 crore, more than half of the gross total. Over half of that IGST came from imports. This shows how the IGST part of GST, collected at ports and airports, has become a major share of India's indirect tax income.
Tax Buoyancy: Measuring GST's Revenue Performance Against the Economy
Tax buoyancy tells us how fast tax income grows compared with the growth of the whole economy. It is found by dividing the percentage growth in tax revenue by the percentage growth in nominal GDP (GDP at current prices, including inflation). A buoyancy above 1 means tax income is growing faster than the economy. A buoyancy below 1 means it is growing slower.
October's 22.9% jump and the 13.2% growth for April to October 2026 are both well above the usual nominal GDP growth rate. If this pace holds for the year, GST buoyancy would be above 1, meaning tax income is growing faster than the economy.
GST Rate Rationalisation (Two-Rate Structure)
GST rate rationalisation means cleaning up the GST rate system: fewer slabs, lower rates on common goods, and fixing cases where similar items are taxed differently. From 22 September 2025, India moved from four main slabs (5%, 12%, 18% and 28%) to two main slabs: 5% for essential "merit" goods and 18% as the standard rate. A special 40% rate was kept for a short list of luxury and harmful "sin" goods. The idea was that lower rates would make goods cheaper, raise demand and, over time, bring in more tax through higher sales.
October 2026 is more than a year after the rate cuts. Strong year-on-year growth in both domestic revenue (15.8%) and import revenue (42%) is being watched as a test of whether lower rates and higher consumption can still deliver rising GST income.
- Gross GST, October 2026: ₹2,31,290 crore (up 22.9% from ₹1,88,125 crore in October 2025)
- Import GST: ₹72,246 crore (up about 42% from ₹50,796 crore)
- Domestic gross GST: ₹1,59,044 crore (up 15.8%)
- Refunds: ₹27,934 crore (up 6.5%); domestic ₹14,007 crore, import/export (ICEGATE) ₹13,927 crore
- Net GST: ₹2,03,356 crore (up 25.6%)
- Components: CGST ₹42,935 crore; SGST ₹51,340 crore; IGST ₹1,37,015 crore
- April to October 2026: gross ₹14,77,569 crore (up 13.2%); net ₹12,69,486 crore (up 12.6%)
- GST launched 1 July 2017 under the 101st Constitutional Amendment Act, 2016
- IGST: Article 269A; GST Council: Article 279A
- Two-slab GST (5% and 18%, plus 40% special rate) in force since 22 September 2025