The Goods and Services Tax (GST) collections in January amounted to Rs 1,93,384 crore, marking a 6.2% increase from the same period last year. Gross GST collections for the month stood at Rs 1,82,094 crore. Year-to-date gross collections from April to January surged to Rs 18,43,423 crore, reflecting an 8.3% growth compared to the previous year.
Moreover, the net GST revenue for January totaled Rs 1,70,719 crore, showing a 7.6% rise year-on-year. The year-to-date net revenue reached Rs 15,95,752 crore, indicating a 6.8% annual growth. Domestic GST collections saw a 4.8% increase year-on-year, reaching Rs 1,41,132 crore. Import GST collections remained robust, with gross import revenue hitting Rs 52,253 crore, up by 10.1% from January 2025.
The compensation cess, serving as a transitional measure, decreased to Rs 5,768 crore from Rs 13,009 crore in the previous year. Total refunds for January amounted to Rs 22,665 crore, showing a slight 3.1% decline year-on-year. State-wise post-settlement GST revenues displayed a varied picture.
In December, GST collection rose by 6.1% to Rs 1,74,550 crore compared to the same month the previous year, indicating increased economic activity. Central GST collections climbed to Rs 34,289 crore, state GST collections to Rs 41,368 crore, and integrated GST collections to Rs 98,894 crore.
Meanwhile, the Finance Ministry implemented a new tax regime for tobacco products from February 1 through a series of notifications. The ministry also clarified through an FAQ list that under the GST regime, the excise duty on cigarettes had been a nominal amount of a “fraction of a paisa” per cigarette stick, and the GST compensation cess rate on tobacco products had remained unchanged since its introduction in July 2017.
