GST Collection October 2026 Jumps 22.9% to Rs 2.31 Lakh Crore: What the Numbers Show, Explained
India's gross GST collection rose 22.9 percent year on year to Rs 2,31,290 crore in October 2026, the second-highest monthly haul on record, as festive buying lifted domestic sales and import revenue surged 42 percent. Here is the full breakdown, what drove it, and what it means for the economy.
India's tax collectors had a very good October. Gross Goods and Services Tax (GST) collection rose 22.9 percent to Rs 2,31,290 crore in October 2026, according to provisional data released by GSTN on Sunday, 1 November 2026. That is the second-highest monthly collection ever, and the fastest growth rate of the financial year so far.
The festive season did a lot of the work. But the most striking number in the release is not domestic: GST collected on imports jumped 42.2 percent. Here is what the data shows and why it matters.
A quick note: this is an explainer, not investment or financial advice.
The 60-second version
- Gross GST: Rs 2,31,290 crore, up 22.9 percent from Rs 1,88,125 crore in October 2025.
- Net GST (after refunds): Rs 2,03,356 crore, up 25.6 percent.
- Domestic revenue: Rs 1,59,044 crore, up 15.8 percent.
- Import revenue: Rs 72,246 crore, up 42.2 percent.
- The ranking: Second-highest month on record, behind about Rs 2.43 lakh crore in April 2026, and the second straight month above Rs 2 lakh crore, as reported by PTI.
- Year to date: April to October gross collection of Rs 14,77,569 crore, up 13.2 percent.
The full breakdown
All figures are in Rs crore and are provisional, as published by GSTN. Growth rates for CGST, SGST and IGST are calculated by BharatBeat from the GSTN figures.
| Component | October 2025 | October 2026 | Growth |
|---|---|---|---|
| Central GST (CGST) | 36,547 | 42,935 | 17.5% |
| State GST (SGST) | 45,134 | 51,340 | 13.7% |
| Integrated GST (IGST) | 1,06,443 | 1,37,015 | 28.7% |
| Gross GST revenue | 1,88,125 | 2,31,290 | 22.9% |
| Gross domestic revenue | 1,37,328 | 1,59,044 | 15.8% |
| Gross import revenue | 50,796 | 72,246 | 42.2% |
| Total refunds | 26,225 | 27,934 | 6.5% |
| Net GST revenue | 1,61,900 | 2,03,356 | 25.6% |
Refunds have two parts. Domestic refunds rose 9.8 percent to Rs 14,007 crore, while export refunds routed through ICEGATE rose 3.4 percent to Rs 13,927 crore. Because refunds grew much more slowly than collections, the net figure grew faster than the gross figure.
What drove the jump
1. Festive spending. PTI, in reports carried by The Hindu and Business Standard, said festive buying boosted domestic demand in October. Domestic gross revenue grew 15.8 percent, more than double its growth rate for the year so far.
2. A surge in import GST. GST on imports is collected as IGST at the border. It rose 42.2 percent in October, and is up 29.3 percent for April to October. Net customs GST, after export refunds, rose 56.2 percent to Rs 58,319 crore. The GSTN release does not explain the drivers, so it is not possible to say from this data alone how much reflects higher import volumes and how much reflects higher prices.
3. Slower refunds. Refunds rose just 6.5 percent, which left more of the gross collection in the government's hands.
The year so far
| Measure (April to October) | FY26 | FY27 | Growth |
|---|---|---|---|
| Gross domestic revenue | 9,61,790 | 10,33,411 | 7.4% |
| Gross import revenue | 3,43,423 | 4,44,158 | 29.3% |
| Gross GST revenue | 13,05,213 | 14,77,569 | 13.2% |
| Total refunds | 1,77,982 | 2,08,083 | 16.9% |
| Net GST revenue | 11,27,355 | 12,69,486 | 12.6% |
The split is worth noticing. For the first seven months of the financial year, import revenue has grown nearly four times as fast as domestic revenue. October's 15.8 percent domestic growth is a sharp pickup from the 7.4 percent pace for the year as a whole.
Why it matters
- For government finances: Strong GST receipts give both the Centre and the states more room in the second half of the year. CGST goes to the Centre, SGST to the states, and IGST is shared between them through settlement.
- For reading the economy: GST collections are one of the quickest monthly signals of consumer spending. A 15.8 percent rise in domestic revenue points to strong festive season sales.
- For a note of caution: These are provisional figures. GSTN says the actual numbers may vary slightly on finalisation. One strong festive month also does not by itself establish a trend.
What to watch next
- November 2026 data, due around 1 December, which will show whether the festive momentum held after Diwali.
- Import revenue. Whether the 40 percent-plus growth in import GST continues, and what explains it.
- State-wise numbers. The GSTN release includes state and Union Territory tables, which show which states drove the domestic jump.
- The full-year picture. Whether gross collections keep growing faster than the 13.2 percent pace recorded so far this year.
October 2026 gave the government one of its best GST months on record. The domestic number says festive shoppers spent freely. The import number raises questions that the next few months of data will need to answer.
This article is for information only and is not investment or financial advice. Figures are provisional and are taken from the GSTN release of 1 November 2026 and reporting by PTI, The Hindu, Business Standard and The Economic Times.
Frequently asked questions
›How much GST was collected in October 2026?
Gross GST collection in October 2026 was Rs 2,31,290 crore, according to provisional data released by GSTN on 1 November 2026. That is 22.9 percent higher than the Rs 1,88,125 crore collected in October 2025.
›What was the net GST collection in October 2026?
After refunds of Rs 27,934 crore, net GST revenue was Rs 2,03,356 crore, up 25.6 percent from Rs 1,61,900 crore a year earlier.
›Is October 2026 a record GST month?
No, but it is close. PTI, as reported by The Hindu and Business Standard, said October was the second-highest month on record, behind the roughly Rs 2.43 lakh crore collected in April 2026. It was also the second straight month above Rs 2 lakh crore, and its 22.9 percent growth was the fastest of the current financial year.
›Why did GST collections rise so sharply in October?
Reports attributed the jump to festive buying, which lifted domestic GST revenue by 15.8 percent. Revenue from imports grew much faster, by 42.2 percent, to Rs 72,246 crore.
›What is the total GST collection for FY27 so far?
From April to October 2026, gross GST collection was Rs 14,77,569 crore, up 13.2 percent year on year. Net collection over the same period was Rs 12,69,486 crore, up 12.6 percent. All figures are provisional.