India’s May GST Receipts Surge 3.2% To Rs 1.94 Lakh Crore On Resilient Domestic Demand
India's Goods and Services Tax (GST) collections for May reached Rs 1.94 lakh crore, registering a 3.2% increase compared to the same month last year. The latest data from the Ministry of Finance highlights steady domestic consumption and robust economic activity. This consistent growth pattern continues to support the government's fiscal targets for the current financial year.
- Republic Business
- 2 min read
India's monthly Goods and Services Tax (GST) collections reached Rs 1.94 lakh crore in May, signaling a return to steady fiscal growth after hitting an all-time high in the previous month.
Official data released on Monday showed that gross revenues grew by 3.2% to Rs 1.88 lakh crore collected during the same period last year. On a net basis, taking refunds into account, May collections rose 3.3% year-on-year to hit Rs 1.67 lakh crore. While the overall numbers indicate steady economic expansion, the internal components show that external trade cushioned a mild slowdown in domestic tax collection.
Import Tax Surge
The driving force behind the positive year-on-year growth came from international trade. Gross GST revenue collected from imports jumped a significant 19.1% to touch Rs 59,654 crore. On a net basis, customs-linked GST collections witnessed an impressive 19.7% spike.
This robust performance in trade-linked revenues effectively counteracted a cooling domestic front. Economists note that the stabilization of the post-pandemic domestic consumption boom is beginning to show in internal trade figures.
In contrast to the import surge, gross domestic product dipped by 2.6% year-on-year to settle at Rs 1.35 lakh crore. Net domestic revenues also reflected this trend, falling 2.3% during the month.
The slight dip is being seen as a natural stabilization after the massive economic activity that occurred ahead of the financial year close in April. Cumulatively, however, the fiscal picture remains highly positive. For the first two months of the current financial year, total gross GST collections are up 6.2% at Rs 4.37 lakh crore.
The state-wise breakdown for May showed highly varied consumption and tax trends across major economic hubs. Among the leading industrial contributors, Karnataka registered an 11% growth in pre-settlement collections, while other top tier manufacturing states like Maharashtra and Andhra Pradesh saw steady, moderate growth patterns.
Published By : Shourya Jha
Published On: 1 June 2026 at 11:45 IST