Forbes India
India’s Goods & Services Tax (GST) collections rose 3.2 percent year-on-year to Rs1.94 lakh crore in May, according to data released by the Ministry of Finance on Monday.The monthly trend shows collections moderating from the April peak. The gross GST mop up for April was recorded at an all-time high of Rs2.43 lakh crore.The lower growth figures for May were largely due to the high base effect as a one-time payment inflated the May 2025 base. A note along the official data release shows that the May 2025 figures included a “one-time payment of approximately Rs10,000 crore from a telecom operator for spectrum allocation”. Counting this out, gross GST revenue grew 9 percent in May 2026, with adjusted net revenue growth at 10.1 percent, the official note from the ministry said.Import-related GST collections saw the highest growth rate, rising 19.1 percent to Rs59,654 crore in May from Rs50,070 crore in May 2025. Domestic revenue collections, however, declined 2.6 percent to Rs1,34,530 crore from Rs1,38,102 crore in the same period. On a net basis, after accounting for refunds, total collections were Rs1.66 lakh crore, up 3.3 percent compared to the same period last year.Total refunds for May stood at Rs27,281 crore, up 2.6 percent from the prior year. Export refunds through ICEGATE (Indian Customs Electronic Data Interchange Gateway) rose 16.6 percent to Rs10,250 crore.State-level data showed a mixed picture. Uttar Pradesh recorded an increase in GST revenues (up 13 percent). A similar trend was seen in Haryana (up 8 percent) and Telangana (up 6 percent)—these states were also among the stronger performers.Several large states saw declines. For instance, revenues in Tamil Nadu fell 15 percent, Delhi dropped 17 percent, West Bengal fell 9 percent and Rajasthan was down 11 percent. Maharashtra, the largest contributor with Rs29,141 crore, was flat year-on-year. Madhya Pradesh, Gujarat and Kerala recorded a moderate 1 percent growth in GST revenue in the same period.
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