India October GST Collections Rise 22.9% to ₹2.31 Lakh Crore

The Government of India reported that gross Goods and Services Tax (GST) collections rose 22.9% year-on-year to ₹2.31 lakh crore in October 2026. This represents the second-highest monthly total ever recorded and the fastest growth rate since September 2022. The surge was primarily driven by a 42.2% increase in import revenues to ₹72,246 crore and a 15.8% rise in domestic sales to ₹1.59 lakh crore, which analysts attribute to festive-season restocking and consumer spending.

After accounting for ₹27,934 crore in refunds, net collections increased 25.6% to ₹2.03 lakh crore. Cumulative gross collections for the period from April to October 2026 reached approximately ₹14.8 lakh crore, marking a 13.2% increase over the previous year. Net customs revenue also saw a significant jump of 56.2% to ₹58,319 crore.

Regional performance varied across the country. Maharashtra recorded the highest revenue at ₹35,150 crore, while Uttar Pradesh and Bihar both saw 24% growth. In Nagaland, gross revenue rose 12% to ₹73 crore, with tax registrations increasing by 5.3% to 11,926. Conversely, collections declined or grew more slowly in states including Sikkim, Himachal Pradesh, and Tamil Nadu.

Tax experts noted that the revenue buoyancy provides the GST Council with headroom to continue reforms focused on simplification and faster refunds. Some analysts suggested a need to recalibrate manufacturing incentive schemes to reduce the high reliance on imports.