GST revenue climbs double digits for third month, driven by import surge

GST receipts in India grew by 14.8% to Rs 1,99,853 crore, marking the third consecutive month of double-digit growth. Domestic transactions contributed more than two-thirds of the total, up 9.3%, while import-related collections jumped 29% to Rs 62,604 crore, driven by higher costs for commodities ranging from crude oil to fertilizer and bullion. Increased consumption of white goods and automobiles helped offset the impact of rate reductions that took effect in September 2025.

Deloitte India partner MS Mani described the trend as a reliable gauge of economic health and urged the GST Council to consider loosening input tax credit restrictions and simplifying compliance. EY India partner Saurabh Agrawal highlighted rising exports of electronics, mobiles and automobiles as evidence of successful manufacturing policies, but warned that continued import dependence calls for stronger localisation efforts. Refunds rose nearly 68% to Rs 31,795 crore, leaving net collections 8.3% higher at Rs 1,68,057 crore, with varied state-level performance.