India's gross Goods and Services Tax (GST) collections surged 22.9 per cent year-on-year to Rs 2,31,290 crore in October 2026, according to provisional data released by the GST Network on November 1, making it the second-highest monthly tally of the current financial year.

The October figure, up from Rs 1,88,125 crore in October 2025, was driven by festive-season spending and a sharp jump in import-linked revenue. Gross domestic GST revenue rose 15.8 per cent to Rs 1,59,044 crore, while revenue from imports surged 42.2 per cent to Rs 72,246 crore, emerging as the single biggest contributor to the overall increase.

Net revenue crosses Rs 2 lakh crore

After refunds of Rs 27,934 crore — up 6.5 per cent from a year earlier — net GST revenue stood at Rs 2,03,356 crore, a 25.6 per cent increase over Rs 1,61,900 crore in October 2025. It is the first time net monthly collections have crossed the Rs 2 lakh crore mark.

Within the gross total, Central GST contributed Rs 42,935 crore, State GST Rs 51,340 crore, and Integrated GST, including revenue from imports, Rs 1,37,015 crore. Maharashtra remained the largest contributor among states with Rs 35,150 crore, up 13 per cent, while Bihar and Uttar Pradesh each reported growth of around 24 per cent.

Strong start to the second half

For the April–October period of 2026-27, cumulative gross GST collections reached Rs 14,77,569 crore, up 13.2 per cent from Rs 13,05,213 crore in the same period last year, while cumulative net collections rose 12.6 per cent to Rs 12,69,486 crore. October was second only to April 2026's record Rs 2.43 lakh crore haul within the financial year so far.

Tax experts said the numbers point to resilient domestic demand despite global headwinds. EY India tax partner Saurabh Agarwal said the October collections reflect the continued resilience of the Indian economy, while Grant Thornton Bharat's Manoj Mishra called the Rs 2.31 lakh crore figure a significant milestone.

Why it matters

GST collections are among the closest-watched gauges of India's economic momentum, since they track consumption and business activity across the country in near real time. A strong October — the month when festive buying peaks — sets up the second half of the fiscal year, and the surge in import-linked revenue also points to robust trade flows. The figures are provisional and may change on finalisation, the GST Network cautioned, but the direction is clear: India's tax base is expanding, and the festive season delivered one of the strongest months since the tax was rolled out in July 2017.