GST collections rise 6.2% to ₹1.93 lakh crore in January, import revenues drive growth
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India’s gross Goods and Services Tax (GST) collections rose 6.2% year-on-year to ₹1.93 lakh crore in January, supported by steady domestic activity and strong growth in import-related revenues, government data showed on Sunday.
Gross collections in January last year stood at ₹1.82 lakh crore. After accounting for refunds, net GST revenue for the month came in at ₹1.71 lakh crore, marking a sharper annual rise of 7.6%. Refunds during the month declined marginally by 3.1% to ₹22,665 crore, which helped lift net inflows.
Domestic Consumption Trails Import Collections
A closer examination of the data reveals a clear divergence between domestic and import-linked tax collections. GST from domestic transactions rose a modest 4.8% year-on-year to ₹1.41 lakh crore, reflecting stable but moderated consumption trends. In contrast, GST collections from imports surged 10.1% to ₹52,253 crore, emerging as the primary driver of overall revenue growth during the month.
Year-To-Date Collections Show Sustained Buoyancy
On a cumulative basis, gross GST collections for the April–January period of FY26 rose 8.3% to ₹18.43 lakh crore. Net GST revenue for the same period increased 6.8% year-on-year to ₹15.96 lakh crore, underscoring sustained fiscal buoyancy despite rate rationalisation measures.
Refunds Mixed As Export Claims Rise
January 2026
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Refund trends remained mixed. While domestic refunds declined 7.1% to ₹13,119 crore in January, export-related refunds rose 2.9% to ₹9,546 crore, indicating resilient outbound trade activity.
Cess Collections Fall After Rate Rationalisation
Compensation cess collections fell sharply to ₹5,768 crore from ₹13,009 crore a year earlier, reflecting policy changes implemented late last year. From September 2025, GST rates were reduced on around 375 items, while the compensation cess was narrowed to apply only to tobacco and related products.
State-Wise Performance Remains Uneven
State-wise post-settlement data showed uneven performance. Industrialised states such as Haryana, Maharashtra and Gujarat posted strong gains, while several smaller and resource-rich regions recorded contractions, highlighting an uneven recovery across states and Union Territories.