The gross Goods and Services Tax (GST) collections in May amounted to around Rs 2 lakh crore, marking a 3.2% increase from the previous year. Government data revealed that gross GST revenue hit Rs 1,94,184 crore in May, compared to Rs 1,88,172 crore in the same month last year. Net GST collections also saw growth, reaching Rs 1,66,904 crore, a 3.3% rise over the corresponding period last year.
Total refunds during the month increased by 2.6% year-on-year to Rs 27,281 crore. Adjusted for this, gross GST revenue growth for May 2026 was around 9%, with adjusted domestic gross GST growth estimated at about 5%. Gross domestic GST revenue for the month stood at Rs 1,34,530 crore, showing a 2.6% decrease from a year ago.
Moreover, gross revenue from imports surged by 19.1% year-on-year to Rs 59,654 crore, indicating a continued strength in import-related tax collections. Adjusted net GST revenue growth for May was approximately 10% after excluding the impact of the one-off payment recorded last year. For the first two months of the current financial year, gross GST collections increased by 6.2% to Rs 4.37 lakh crore, while net GST revenue rose by 5.5% to Rs 3.78 lakh crore.
In May 2025, collections included nearly Rs 10,000 crore of a one-time payment made by a telecom operator towards spectrum allocation. Notably, GST collection surged by 8.7% year-on-year to a record Rs 2,42,702 crore in April, with net GST revenue for the month standing at Rs 2,10,909 crore, registering a 7.3% annual growth after accounting for refunds.
