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What is the story about?
India’s gross Goods and Services Tax (GST) collections rose 3.2% year-on-year to ₹1.94 lakh crore in May, supported by higher import-related revenues and broad-based growth in economic activity, government data showed on Monday.
According to government sources, gross GST collections registered an adjusted growth of 9% year-on-year, after factoring out a one-time ₹10,000 crore spectrum-related payment made by a telecom operator in May 2025.
Net GST collections, after refunds, rose 10.1% on an adjusted basis to ₹1.66 lakh crore.
Taxable supplies of goods grew 26.9% in April, as reflected in May filings, with gains recorded across all 27 commodity groups. The services sector also posted broad-based growth of 22.2% year-on-year, led by a sharp rise in real estate services.
On the trade side, IGST on imports increased 20.2% to ₹60,166 crore, signalling stronger industrial activity and capacity utilisation. Growth was driven by higher imports of key inputs, including electronic components, copper and aluminium scrap, lithium-ion batteries, and coal.
Tech-related imports showed strong momentum, with processing units rising 387% and memory chips increasing 205%, while coal accounted for 8.1% of incremental IGST growth. Lithium-ion battery imports rose 66%, reflecting deeper integration into the EV and energy storage ecosystem.
GST refunds increased 2.6% year-on-year to ₹27,281 crore, indicating continued efficiency in processing claims.
On a cumulative basis, gross GST collections for April–May FY27 stood at ₹4.37 lakh crore, reflecting steady revenue momentum in the early part of the fiscal year.
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According to government sources, gross GST collections registered an adjusted growth of 9% year-on-year, after factoring out a one-time ₹10,000 crore spectrum-related payment made by a telecom operator in May 2025.
Net GST collections, after refunds, rose 10.1% on an adjusted basis to ₹1.66 lakh crore.
Taxable supplies of goods grew 26.9% in April, as reflected in May filings, with gains recorded across all 27 commodity groups. The services sector also posted broad-based growth of 22.2% year-on-year, led by a sharp rise in real estate services.
On the trade side, IGST on imports increased 20.2% to ₹60,166 crore, signalling stronger industrial activity and capacity utilisation. Growth was driven by higher imports of key inputs, including electronic components, copper and aluminium scrap, lithium-ion batteries, and coal.
Tech-related imports showed strong momentum, with processing units rising 387% and memory chips increasing 205%, while coal accounted for 8.1% of incremental IGST growth. Lithium-ion battery imports rose 66%, reflecting deeper integration into the EV and energy storage ecosystem.
GST refunds increased 2.6% year-on-year to ₹27,281 crore, indicating continued efficiency in processing claims.
On a cumulative basis, gross GST collections for April–May FY27 stood at ₹4.37 lakh crore, reflecting steady revenue momentum in the early part of the fiscal year.
ALSO READ | China tightens overseas investment rules after blocking Meta-Manus deal
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