India’s Goods and Services Tax (GST) collections maintained a strong growth trajectory in January 2026, reflecting resilient economic activity and sustained compliance levels. Provisional figures show that gross GST revenue for the month stood at ₹1,93,384 crore, marking a 6.2 per cent increase compared to January 2025.
Domestic GST Revenue Shows Steady Momentum
Domestic GST collections continued to register healthy growth during the month. Gross domestic revenue increased to ₹1,41,132 crore, up from ₹1,34,641 crore in the corresponding period last year, translating into a year-on-year growth of 4.8 per cent.
Collections under CGST rose to ₹38,792 crore, while SGST increased to ₹47,817 crore. IGST collected from domestic transactions stood at ₹54,522 crore, indicating steady inter-state trade and consumption activity across the country.
Import GST Records Double-Digit Growth
GST revenue from imports witnessed a sharper increase, underscoring robust trade flows. Gross GST collections from imports rose to ₹52,253 crore, registering a 10.1 per cent growth over January 2025. On a cumulative basis for the financial year so far, import-related GST collections recorded growth of over 13 per cent, reflecting effective customs administration and strong import demand.
Net GST Revenue Crosses ₹1.70 Lakh Crore
After accounting for refunds, net GST revenue for January 2026 stood at ₹1,70,719 crore, showing a 7.6 per cent year-on-year growth. Net domestic revenue increased to ₹1,28,013 crore, while net revenue from imports rose to ₹42,707 crore, highlighting the growing contribution of cross-border trade to overall GST collections.
Cumulatively, net GST revenue collected during FY 2025–26 up to January reached ₹15,95,752 crore, reflecting a 6.8 per cent increase over the same period of the previous financial year.
Refunds Moderate Monthly, Increase Cumulatively
Total GST refunds issued during January 2026 amounted to ₹22,665 crore, marginally lower than the refunds issued in January 2025. Domestic refunds declined on a year-on-year basis, while export-related refunds saw a modest increase, indicating stable export activity.
However, on a cumulative basis, total refunds issued during the financial year rose significantly, reflecting faster processing and clearance of pending refund claims.
Compensation Cess Collections Decline
Net compensation cess revenue for January 2026 stood at ₹5,768 crore, lower than the collections recorded in the previous year. The compensation cess continues as a temporary measure until outstanding loan and interest liabilities are fully discharged.
States Witness Broad-Based Revenue Growth
State-wise GST data reveals that most states and Union Territories recorded positive growth in SGST collections and IGST settlements during January 2026. Large states such as Maharashtra, Karnataka, Gujarat, Tamil Nadu and Uttar Pradesh remained the biggest contributors to overall GST revenue.
Several states including Punjab, Haryana, Odisha and Maharashtra reported healthy year-on-year growth in post-settlement revenues, strengthening their fiscal position and revenue stability.
Positive Outlook for GST Revenues
The sustained rise in GST collections highlights the robustness of India’s indirect tax framework. Growth in net revenues, improved refund management and stronger import-related collections point to a stable revenue outlook for the remainder of the financial year. The continued buoyancy in GST receipts is expected to support fiscal consolidation while enabling further reforms aimed at simplifying compliance and enhancing trust in the tax system.
Read More: Juris Hour’s Union Budget 2026-27 Bulletin
