October GST Collections Rise 22.9% to ₹2.31 Lakh Crore on Festive Demand

India’s October GST collections rose 22.9% year-on-year to a gross ₹2.31 lakh crore, official data released on Sunday showed, as festive spending and a sharp rise in import revenue lifted receipts.

The gross mop-up stood at ₹2,31,290 crore, against ₹1,88,125 crore in October 2025, according to Ministry of Finance data reported by Business Today. It is the second-highest monthly collection on record, behind the roughly ₹2.43 lakh crore collected in April.

After refunds of ₹27,934 crore, up 6.5% from a year ago, net GST revenue came in at ₹2,03,356 crore. That is 25.6% higher than the ₹1,61,900 crore recorded in October last year.

Imports Drive the Jump in October GST Collections

Revenue from domestic transactions grew 15.8% to ₹1,59,044 crore. GST on imports rose much faster, climbing 42.2% to ₹72,246 crore from ₹50,796 crore a year earlier.

By component, CGST stood at ₹42,935 crore and SGST at ₹51,340 crore. IGST totalled ₹1,37,015 crore, of which ₹64,769 crore came from domestic transactions and ₹72,246 crore from imports.

After refunds, net import revenue rose 56.2% to ₹58,319 crore, while net domestic revenue grew 16.4% to ₹1,45,037 crore. Domestic refunds rose 9.8% to ₹14,007 crore, and export refunds processed through ICEGATE increased 3.4% to ₹13,927 crore.

For the April–October period of FY27, gross collections rose 13.2% to ₹14,77,569 crore from ₹13,05,213 crore a year ago. Net GST collections over the seven months grew 12.6% to ₹12,69,486 crore.

The gap between domestic and import growth is visible over the full period as well. Gross domestic revenue for April–October rose 7.4% to ₹10.33 lakh crore, while import collections grew 29.3% to ₹4.44 lakh crore, Upstox reported.

Among states, Maharashtra contributed the most at ₹35,150 crore, up 13%. Karnataka collected ₹15,922 crore, up 18%, while Gujarat brought in ₹13,516 crore, up 16%, and Uttar Pradesh ₹10,235 crore, up 24%.

Uttar Pradesh and Bihar posted the fastest growth among the five states cited by Upstox, at 24% each, with Bihar collecting ₹1,827 crore. Upstox’s report also credited better compliance and resilient underlying consumption for the gains, beyond the seasonal lift from festivals.

Why the October Numbers Matter for Business

Introduced in July 2017, GST replaced a web of central and state indirect taxes. Monthly collections are closely watched as a timely read on consumption, compliance and trade, and they feed directly into the finances of both the Centre and the states.

The October GST collections data comes about a year after the GST rate rationalisation that took effect in September 2025 and lowered rates on a wide range of goods. The steady revenue since then gives the GST Council room to continue with reforms, according to Upstox’s report on the data.

Manoj Mishra, Partner and Tax Controversy Management Leader at Grant Thornton Bharat, linked the October figures to the festive demand cycle. He said the focus should now be on “sustaining domestic revenue growth”.

Mahesh Jaising, Partner, Indirect Tax at Deloitte, said “the GST reform express continues to gather pace”. He expects the momentum to continue as festive sales carry on.

For companies, the 15.8% rise in domestic revenue points to firm consumer spending through Navratri and Dussehra. It also lines up with the record October dispatches reported by carmakers such as Maruti Suzuki, and with recent quarterly numbers from consumer companies such as Tata Consumer Products, whose Q2 results reported a 14% rise in revenue.

The import surge needs a closer reading. In its analysis of the data, Nationpress noted that part of the rise in import-linked revenue could reflect higher prices rather than larger volumes, which would make it a weaker signal of trade growth.

What Comes Next

Dhanteras and Diwali fall in the first half of November this year, so the peak of festive buying will show up in next month’s numbers. Saurabh Agarwal, Tax Partner at EY India, said the season “should keep demand buoyant” and expects strong collections in the coming month.

The November data, due in early December, will show whether the momentum in October GST collections holds through the festive peak. Investors and policymakers will also track how the jump in import revenue shapes the government’s fiscal position in the second half of FY27. More economy and company updates are available in our business news section.

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Meta title: October GST Collections Rise 22.9% to ₹2.31 Lakh Crore (54 characters)

Meta description: October GST collections rose 22.9% to ₹2.31 lakh crore, the second-highest ever, as festive buying and a 42% jump in import revenue lifted receipts. (148 characters)

Focus keyword: October GST collections

Secondary keywords: GST revenue, net GST collections, GST on imports

Slug: october-gst-collections

Tags (5): GST, Ministry of Finance, Indian Economy, Tax Revenue, Festive Season

Category: Business News, Markets & Finance

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Internal links used: https://ceoreviewmagazine.com/news/tata-consumer-q2-results-profit/, https://ceoreviewmagazine.com/category/business-news/

Note: Fact & grammar check done — 12 corrections (Phrasly output for 4 paragraphs restored: “231290 billion rupees” and “Billion” unit errors, “last month” for year-ago comparison, “highest ever” overstating second-highest, Rs/₹ style, lower-case month/day names, “reach at” and “i.e” misuse; one attribution tightened). Flags: (1) Year-ago base of ₹1.88 lakh crore in this year’s official data differs from the ₹1.96 lakh crore reported for October 2025 at the time, likely due to cess being excluded from the current series — not confirmed in a primary PIB release, which could not be retrieved. (2) The April record of ~₹2.43 lakh crore is from Upstox/The Hindu (via Superprep), not read in a primary release. (3) Sources conflict on whether October is the second or third straight month above ₹2 lakh crore, so this claim was left out. (4) External link is to Business Today, which cites Ministry of Finance data; swap for the PIB/GST portal release if available. Phrasly: unavailable for this run after 4 GST paragraphs (account requires human verification at https://phrasly.ai/human-verification).

Sources (fact-check):

• https://www.businesstoday.in/india/story/gross-gst-collections-hit-rs2-31-lakh-crore-in-october-marks-22-9-yoy-rise-on-robust-domestic-growth-564976-2026-11-01
• https://upstox.com/news/business-news/tax/gst-mop-up-rises-22-9-to-rs-2-31-lakh-crore-in-october-second-highest-ever/article-202786/
• https://www.nationpress.com/business/gst-collections-hit-indian-rupee231-lakh-crore-in-oct
• https://www.superprep.io/current-affairs/october-2026-gst-collections-cross-231-lakh-crore-second-highest-monthly-mop-up
• https://autoindiadaily.in/auto-news/october-2026-passenger-vehicle-sales/