New Delhi, May 1: The gross Goods and Services Tax (GST) collection surged 8.7 per cent (year-on-year) to a record Rs 2,42,702 crore in the month of April despite geo-political uncertainties, latest official data showed on Friday. Net GST revenue for last month stood at Rs 2,10,909 crore, registering a 7.3 per cent annual growth (after accounting for refunds).
Total refunds jumped 19.3 per cent (on-year) to Rs 31,793 crore, leading to a net GST revenue of Rs 2,10,909 crore for the month. The growth was supported by strong import-linked revenues. Gross import revenue rose 25.8 per cent to Rs 57,580 crore, while gross domestic revenue went up 4.3 per cent to Rs 1.85 lakh crore. In March, the total gross GST collections grew 8.8 per cent to over Rs 2 lakh crore as compared to the same month last year. The total gross GST revenue in March 2025 was over Rs 1.83 lakh crore.
For the full financial year 2025-26, gross GST collections grew 8.3 per cent to Rs 22.27 lakh crore, compared to Rs 20.55 lakh crore in the previous fiscal (FY25), indicating resilient economic activity despite global uncertainties. Moreover, net GST revenue for the fiscal stood at Rs 19.34 lakh crore, registering a 7.1 per cent increase over FY25.
Refunds during March rose 13.8 per cent to Rs 22,074 crore, with domestic refunds seeing a sharp 31.2 per cent jump, indicating improved compliance and faster processing. Meanwhile, cess collections showed a sharp decline during the month, turning negative at Rs (-177) crore, primarily due to higher refunds and adjustments. According to experts, GST collections in FY26 reflect strong tax buoyancy in line with India’s estimated GDP growth of around 7 per cent, underscoring the link between rising consumption, expanding imports and improved compliance.
IANS
