2 April, 2026 | 4:38 AM
GST collections rise 9% to over Rs 2 lakh cr in March
02-04-2026 12:00:00 AM
March 2026 saw the third-highest collection in the 2025-26 fiscal
PTI
New Delhi
GST revenues grew about 9% in March, scaling to the pre-tax cut level of over Rs 2 lakh crore, the third-highest monthly collection in the 2025-26 fiscal, government data showed on Wednesday. The growth was buoyed by mop-ups from imports as well as domestic sales and purchases.
Gross domestic revenues rose 5.9% to over Rs 1.46 lakh crore, while those from imports grew 17.8% to Rs 53,861 crore during the month. The gross goods and services tax (GST) mop-up was Rs 1.83 lakh crore in March 2025.
March 2026 saw the third-highest collection in the 2025-26 fiscal. April 2025 recorded the highest-ever GST revenues at over Rs 2.36 lakh crore, followed by May's collection at over Rs 2.01 lakh crore. For the full 2025-26 fiscal, GST collections grew 8.3% year-on-year to over Rs 22.27 lakh crore.
GST rates on about 375 items were slashed, making goods cheaper, effective September 2025. Also, four tax slabs of 5%, 12%, 18% and 28% were merged into two of 5% and 18%, with the highest 40% slab for a select few ultra-luxury goods and tobacco products.
The GST collection initially dipped in the first month of tax-cut implementation, with revenues declining to Rs 1.70 lakh crore in November. It rose to Rs 1.74 lakh crore in December and further to Rs 1.93 lakh crore in January. In February, it was over Rs 1.83 lakh crore. Refund issuance during March rose 13.8% to Rs 22,074 crore. After adjusting refunds, net GST revenues in March stood at about Rs 1.78 lakh crore, up 8.2% year-on-year.
Deloitte India partner MS Mani said while these collections indicate that the consumption sentiment continues to be strong, the growth has been significantly helped by strong collections in the import GST numbers. "There has been a significant increase in imports, which has contributed to the GST collections on imports; this would also have led to a significant increase in the customs duty collections," Mani said.
