Gross GST collections hit record high of Rs 2.43 lakh crore in April 2026 despite US-Iran war concerns – The Times of India

GST collections (AI image)

GST collections: The gross Goods and Services Tax (GST) collections touched a new high in April, reflecting continued strength in economic activity even in the midst of the ongoing Middle East conflict.According to government data released on Friday, gross GST revenue for the month reached a record Rs 2.43 lakh crore, registering an 8.7% increase over Rs 2.23 lakh crore collected in April last year.After accounting for refunds, net GST collections stood at Rs 2.11 lakh crore, up 7.3% from the corresponding period a year earlier.Refund disbursements during the month rose sharply, climbing 19.3% year-on-year to Rs 31,793 crore.As a result, net GST revenue for April 2026 came in at Rs 2,10,909 crore.Robust revenues from imports played a major role in driving GST collections during the month. Gross receipts from imports climbed sharply by 25.8% to Rs 57,580 crore, while gross domestic GST collections recorded a comparatively moderate increase of 4.3%, reaching Rs 1.85 lakh crore.The net GST revenue from imports surged 42.9%, significantly outpacing the marginal 0.3% rise in net domestic collections.The April performance follows a strong showing in March, when net GST collections stood at Rs 1.78 lakh crore, up 8.2% from a year earlier. Gross collections in that month had also crossed the Rs 2 lakh crore mark.For the full financial year 2025-26, gross GST revenue increased 8.3% year-on-year to Rs 22.27 lakh crore. Net GST collections for the year rose 7.1% to Rs 19.34 lakh crore.Major contributors such as Maharashtra, Karnataka and Gujarat continued to account for a substantial share of total collections.