India's GST collections rise to ₹1.94 lakh crore in May on strong import tax revenues
India’s gross Goods and Services Tax (GST) collections grew 3.2% year-on-year to ₹1.94 lakh crore in May, driven by higher import taxes and taxable supplies, though still below April’s record ₹2.43 lakh crore. Import-related IGST surged 19.1% to ₹59,654 crore, while taxable goods and services rose 26.9% and 22.2%, respectively, signaling strong economic activity.
India’s gross Goods and Services Tax (GST) collections rose 3.2% year-on-year to ₹1.94 lakh crore in May, according to government data released June 1. The increase was fueled by stronger tax revenues from imports and higher taxable supplies of goods and services, though collections remained below April’s record ₹2.43 lakh crore. Central GST (CGST) collections totaled ₹37,397 crore, while State GST (SGST) reached ₹45,143 crore. Integrated GST (IGST) collections hit ₹1.11 lakh crore, with ₹59,654 crore collected on imports alone—a 19.1% year-on-year increase. Taxable supplies of goods grew 26.9%, and services rose 22.2%, indicating sustained economic expansion. GST refunds increased 2.6% to ₹27,281 crore, resulting in net GST revenue of ₹1.67 lakh crore, up 3.3% from May 2025. Government sources attributed the growth in import-related IGST to strong demand for industrial inputs and manufacturing activity. The data highlights continued economic momentum, with import taxes and domestic taxable supplies driving revenue growth. However, the decline from April’s peak suggests seasonal or policy-related fluctuations in collection trends.
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