|
India's gross GST collections rose to Rs 2,00,064 crore in March 2026, marking an 8.8 per cent increase compared to Rs 1,83,845 crore in March 2025, according to the data released by the finance ministry.
On a year-on-year (YoY) basis, the total gross GST revenue for FY26 stood at Rs 22.27 lakh crore, up 8.3 per cent from Rs 20.55 lakh crore in FY25, indicating sustained momentum in tax collections. The March collections crossing the Rs 2 lakh crore mark suggest a strong end-of-year push in compliance and economic activity. Domestic GST revenue grew 5.9 per cent YoY in March to Rs 1.46 lakh crore, reflecting stable internal consumption. But Import-related GST revenue surged 17.8 per cent YoY, significantly outpacing domestic growth, pointing to higher import activity and improved customs collections. IGST collections showed strong expansion, rising to Rs 1.06 lakh crore in March, driven largely by imports. CGST and SGST collections also recorded moderate increases, indicating balanced growth across central and state tax components. Total GST refunds rose 13.8 per cent YoY in March to Rs 22,074 crore. After adjusting for refunds, net GST revenue increased 8.2 per cent YoY to Rs 1.77 lakh crore. Net GST collections for FY26 stood at Rs 19.34 lakh crore, up 7.1 per cent YoY, indicating consistent revenue buoyancy despite higher refunds. According to the data, several large states such as Maharashtra (+17%), Karnataka (+14%) and Telangana (+19%) recorded strong SGST growth in March, while some states like Tamil Nadu (-8%) and Assam (-15%) saw declines. The March GST data reflects robust YoY growth driven by imports and steady domestic demand, with collections maintaining an upward trajectory through FY26. The crossing of the Rs 2 lakh crore mark underscores improved compliance and economic resilience. (ANI)
|
