After deducting refunds, the government’s net tax collections stood at Rs 1.69 lakh crore, or 0.6% more than in October 2024. As per the data, collections of Central-GST, State-GST, and Integrated-GST rose year-on-year, while cess collections dipped year-on-year.
In the April-October period of FY26, the GST collections rose 9.0% to about Rs 13.89 lakh crore, as against Rs 12.74 lakh crore in the same period last fiscal.
Since the launch of GST policy, the GST Council has played a key role in shaping the system. It is chaired by the Union Finance Minister and also includes state finance ministers and other key officials.
Even after the government’s sweeping GST structural rationalisation, India’s GST revenues have remained robust. The continued strength in GST collections demonstrates that the reforms are simultaneously underpinning local consumption and revenue buoyancy for the government, officials told ET.
Next-gen GST reforms that came into effect on September 22 were expected to have a wide ranging impact on the tax collection of the government. Under GST 2.0, the Ministry of Finance reduced the multi-layered tax structure to effectively two broad slabs of 5% and 18%, along with a special 40% rate for select items.