Gross GST collections in May rose 3.2% year-on-year to approximately Rs 2 lakh crore. This indicates a slight increase compared to the same month last year.
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GST Collections Rise To Rs 2 Lakh Crore In May Despite West Asia Tensions
India’s GST collections remained resilient in May, with gross revenues rising to nearly Rs 2 lakh crore despite geopolitical tensions in West Asia and rising global economic uncertainty.
Strong import-related tax collections helped support overall growth, even as domestic GST revenues saw a modest decline during the month.
Source : istockphoto.com
- May GST collections rose 3.2% year-on-year to ₹2 lakh crore.
- Net GST revenue grew 3.3%, with refunds up 2.6%.
- Imports tax collections surged 19.1%, domestic down 2.6%.
New Delhi, June 1 (IANS) The gross Goods and Services Tax (GST) collections rose 3.2 per cent year-on-year to around Rs 2 lakh crore in May, despite geopolitical tensions in West Asia, according to government data released on Monday.
As per data, gross GST revenue stood at Rs 1,94,184 crore in May, compared to Rs 1,88,172 crore in the same month last year. Meanwhile, net GST collections reached Rs 1,66,904 crore, a growth of 3.3 per cent over the corresponding period last year.
Total refunds during the month increased 2.6 per cent year-on-year to Rs 27,281 crore.
Adjusted for this, gross GST revenue growth for May 2026 stood at around 9 per cent, while adjusted domestic gross GST growth was estimated at about 5 per cent.
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Gross domestic GST revenue stood at Rs 1,34,530 crore during the month, down 2.6 per cent from a year ago.
Meanwhile, gross revenue from imports rose sharply by 19.1 per cent year-on-year to Rs 59,654 crore, indicating continued strength in import-related tax collections.
Adjusted net GST revenue growth for May stood at around 10 per cent after excluding the impact of the one-off payment recorded last year.
For the first two months of the current financial year, gross GST collections increased 6.2 per cent to Rs 4.37 lakh crore, while net GST revenue rose 5.5 per cent to Rs 3.78 lakh crore.
In addition, May 2025 collections included nearly Rs 10,000 crore of one-time payment made by a telecom operator towards spectrum allocation.
Notably, GST collection surged 8.7 per cent year-on-year to a record Rs 2,42,702 crore in the month of April. While 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).
Also Read : Share Markets Eye RBI MPC Amid US-Iran Tensions: Sensex About 300 Points Up, Nifty Over 23,600
(Disclaimer: This report has been published as part of the auto-generated syndicate wire feed. Apart from the headline, no editing has been done in the copy by ABP Live.)
Frequently Asked Questions
What was the gross GST collection in May?
How did net GST collections perform in May?
Net GST collections reached Rs 1,66,904 crore in May, showing a growth of 3.3% over the corresponding period last year. Refunds during the month increased by 2.6%.
What contributed to the increase in import-related GST revenue?
Gross revenue from imports rose by 19.1% year-on-year, reaching Rs 59,654 crore. This suggests strong tax collections related to imported goods.
How have GST collections fared in the first two months of the financial year?
For the first two months of the current financial year, gross GST collections increased by 6.2% to Rs 4.37 lakh crore. Net GST revenue rose by 5.5% to Rs 3.78 lakh crore.
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