GST Collections Reach Record High of 2.43 Lakh Crore in April

India's GST Collections Hit Record High of Rs 2.43 Lakh Crore in April 2026

India's Goods and Services Tax (GST) collections reached a staggering Rs 2.43 lakh crore in April 2026, marking a significant increase from the previous month's collection of Rs 2 lakh crore. This surge in GST collections can be attributed to higher import revenues, despite a moderation in domestic consumption growth.

The latest figure represents a substantial jump from Rs 2.23 lakh crore in April 2025, resulting in a year-on-year growth of 8.7 percent in gross GST collections. Net GST revenue stood at Rs 2.11 lakh crore, up 7.3 percent from a year earlier.

The April data coincides with a period when the global economy was dealing with the aftermath of a war between Iran, Israel, and the US, which led to a surge in crude prices. As a result, Brent crude prices on April 30 rose above $126 per barrel, fueled by concerns over the potential restart of hostilities in the region.

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A breakdown of the data reveals that gross domestic revenue grew by 4.3 percent year-on-year to Rs 1.85 lakh crore, while import-related GST revenue surged by 25.8 percent to Rs 57,580 crore. This indicates that the bulk of the increase was driven by external trade rather than domestic demand.

Refunds also rose during the month, with total refunds increasing by 19.3 percent to Rs 31,793 crore. This growth was led by a 54.6 percent jump in domestic refunds, which was partly offset by a 14 percent decline in export-related refunds.

Monthly trends show that GST collections have steadily scaled up from around Rs 1.67 lakh crore in April 2022 to Rs 2.10 lakh crore in April 2024, before crossing Rs 2.23 lakh crore in April 2025 and reaching the current record level.

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Despite the West Asia crisis, growth momentum has continued. Year-on-year growth moderated to 8.7 percent in April 2026, down from 8.8 percent in March. This suggests that while GST collections are hitting new highs in absolute terms, the pace of expansion—particularly linked to consumption—may be easing, with import-led revenues playing a larger role in recent gains.