Noida, June 1 (APAC Media): India’s Goods and Services Tax (GST) collections rose to ₹1.94 lakh crore in May 2026, registering a year-on-year growth of 3.2%, according to official data released by the government.
Gross GST revenue stood at ₹194,184 crore during the month, compared with about ₹188,000 crore in the same period last year.
The increase reflects continued stability in indirect tax collections, even as monthly growth moderated from the previous month’s peak levels.
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The May GST data, which reflects transactions undertaken in April, comes amid prevailing global economic uncertainties, including ongoing geopolitical tensions.
However, tax collections remained resilient during the month, supported by steady domestic consumption and improved compliance under the GST regime.
After accounting for refunds, net GST collections also recorded an increase, indicating sustained underlying tax buoyancy.
Officials noted that while gross collections dipped from the record levels seen in April 2026, overall revenue performance remains on a steady growth path.
Import-linked GST collections continued to show relatively stronger momentum during the month, helping offset softer growth in domestic trade-related collections.
This trend highlights the continued contribution of external trade flows to indirect tax revenues.
Cumulatively, GST collections for the first two months of the 2026–27 fiscal year (April and May) stood at ₹4.37 lakh crore, reflecting a 6.2% year-on-year increase.
The data suggests a stable start to the fiscal year, although growth momentum has eased compared with earlier high-growth phases.
Economists said the latest figures point to a broadly stable but moderating economic environment, with consumption holding steady amid external pressures.
They added that upcoming monthly data will be key in assessing whether GST revenue growth stabilises or picks up in the coming quarters.
(Ends)
Disclaimer:Â Views expressed are those of experts and do not reflect APAC Media. This is for informational purposes only, not financial advice. We are not responsible for investment decisions. Please consult a qualified financial advisor before investing.
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