GST Collections Reach Five-Month High in February

India's GST Collections Rise to Rs 1.84 Lakh Crore in February

Key Highlights

• India's Goods and Services Tax (GST) collections reached Rs 1.84 lakh crore in February, marking a 5-month high growth of 8.1% year-on-year.
• The growth indicates steady consumption momentum and resilient domestic economic activity despite global uncertainties.
• Gross GST revenues rose to Rs 1.84 lakh crore compared to Rs 1.69 lakh crore in February last year.

Revenue Breakdown

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• Gross Domestic GST Revenue: rose 5.3% year-on-year to Rs 1.35 lakh crore.
• Net Domestic Revenue: grew 6.2% year-on-year.
• Import-Related GST Revenues: increased 17.2% annually, indicating stronger trade flows and possibly higher import values.
• Net Customs GST Collections: rose 14.2%.

Refund and State Revenues

• Total refunds increased 10.2% year-on-year to Rs 22,595 crore, reflecting faster processing.
• Post-settlement GST revenues for states collectively rose 7% year-on-year in February.
• Large industrial states such as Maharashtra, Karnataka, and Gujarat registered steady increases in GST settlements.

Economic Outlook

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• The Indian economy expanded 7.8% in the third quarter compared to 8.4% growth in the second quarter of FY26.
• The Indian economy is expected to log 7.6% growth for the fiscal, indicating that growth may persist at current rates in the fourth quarter as well.