India GST collections reached a record high in April 2026, with gross revenues touching Rs 2.43 trillion, even as net collections after adjusting for refunds rose 7.3% year-on-year to Rs 2.11 trillion, according to official government data.

Key Highlights

• India GST collections hit record Rs 2.43 trillion in April 2026 driven by strong import growth.
• Net GST revenue rose 7.3% YoY while domestic growth remained subdued amid rising refunds.

The surge was largely driven by a sharp rise in import-linked GST collections, while domestic revenue growth remained relatively muted.

Import GST Growth Outpaces Domestic Revenue

A clear divergence emerged between domestic and import-driven GST collections:

• Net domestic GST revenue rose marginally by 0.3% to Rs 1.65 trillion, impacted by higher refund outflows
• Gross domestic collections stood at Rs 1.85 lakh crore
• Net GST from imports surged 42.9% to Rs 45,784 crore
• Gross import revenue reached Rs 57,580 crore

The strong import performance played a key role in pushing overall GST collections to record levels.

Refunds Rise Sharply, Impacting Net Growth

Total GST refunds increased 19.3% year-on-year to Rs 31,793 crore, with notable trends:

• Domestic refunds jumped 54.6%, offsetting domestic revenue gains
• Import-related refunds declined 14%, supporting higher net import collections

The rise in refunds indicates improved processing efficiency but also dampened net domestic revenue growth.

Also Read: GST Collections in March Rise 9%, Third-highest Collection in FY26

While April’s record GST collections signal strong fiscal momentum, experts caution that the spike may not be sustained. GST revenues are expected to moderate in the coming months as the new financial year progresses and the year-end effect fades.

For FY27, the government has set a GST revenue target of Rs 10.2 trillion, slightly lower than the Rs 10.46 trillion estimated for FY26, indicating a cautious yet stable outlook.