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What is the story about?
India’s gross Goods and Services Tax (GST) collections rose 8.8% year-on-year to over ₹2 lakh crore in March, driven by higher revenues from domestic transactions and imports, according to government data released on Wednesday (April 1).
The latest collections compare with ₹1.83 lakh crore recorded in March 2025. Gross domestic GST revenues increased 5.9% to over ₹1.46 lakh crore, while revenues from imports grew at a faster pace of 17.8% to ₹53,861 crore.
Refund issuance during the month rose 13.8% to ₹22,074 crore. After adjusting for refunds, net GST collections stood at about ₹1.78 lakh crore, marking an 8.2% increase from a year earlier.
For the full financial year 2025-26 (April–March), gross GST revenues grew 8.3% to over ₹22.27 lakh crore. Net collections for the year, after refunds, rose 7.1% to ₹19.34 lakh crore.
Experts said the steady growth in GST revenues reflects broader economic trends. Vivek Jalan, Partner at Tax Connect Advisory Services, said the collections mirror India’s GDP growth momentum of around 7%, indicating sustained consumption and improving compliance.
He noted that domestic GST revenue growth and a sharper rise in import-related collections point to resilient demand and strengthening trade flows despite global uncertainties. At the same time, higher refunds—up nearly 18% during the year—have moderated net revenue growth but indicate improved efficiency in the tax system, particularly after efforts to expedite refund processing.
The latest collections compare with ₹1.83 lakh crore recorded in March 2025. Gross domestic GST revenues increased 5.9% to over ₹1.46 lakh crore, while revenues from imports grew at a faster pace of 17.8% to ₹53,861 crore.
Refund issuance during the month rose 13.8% to ₹22,074 crore. After adjusting for refunds, net GST collections stood at about ₹1.78 lakh crore, marking an 8.2% increase from a year earlier.
For the full financial year 2025-26 (April–March), gross GST revenues grew 8.3% to over ₹22.27 lakh crore. Net collections for the year, after refunds, rose 7.1% to ₹19.34 lakh crore.
Experts said the steady growth in GST revenues reflects broader economic trends. Vivek Jalan, Partner at Tax Connect Advisory Services, said the collections mirror India’s GDP growth momentum of around 7%, indicating sustained consumption and improving compliance.
He noted that domestic GST revenue growth and a sharper rise in import-related collections point to resilient demand and strengthening trade flows despite global uncertainties. At the same time, higher refunds—up nearly 18% during the year—have moderated net revenue growth but indicate improved efficiency in the tax system, particularly after efforts to expedite refund processing.
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