Key Highlights
- Gross GST collections reached ₹1,94,184 crore in May 2026.
- Net GST collections after refunds stood at ₹1,66,904 crore, up 10.1% (adjusted).
- Goods sector taxable supply surged 26.9% to ₹40.10 lakh crore.
- Services sector taxable supply increased 22.2% to ₹11.50 lakh crore.
- IGST on imports rose 20.2% to ₹60,166 crore.
- Electronics, semiconductors, copper, lithium-ion batteries and coal imports drove industrial growth.
- GST performance indicates broad-based expansion in domestic demand and manufacturing activity.
- FY27 GST collections remain on track with cumulative growth of 8.8% (adjusted) in April-May period.
GST Collections Maintain Strong Momentum in May 2026
India’s GST collections remained robust in May 2026, reflecting strong domestic consumption, resilient services activity, and continued industrial expansion. Gross GST collections stood at ₹1,94,184 crore, while net collections after refunds reached ₹1,66,904 crore.
The government noted that May 2025 collections included a one-time spectrum-related payment of nearly ₹10,000 crore by a telecom operator. Adjusting for this base effect, gross GST collections recorded a healthy 9% growth, while net collections grew 10.1% year-on-year.
GST Collection Snapshot
| Particulars | May 2025 | May 2026 | Adjusted Growth |
|---|---|---|---|
| Gross GST Collections | ₹1,78,172 Cr | ₹1,94,184 Cr | +9.0% |
| Net GST Collections | ₹1,51,585 Cr | ₹1,66,904 Cr | +10.1% |
Goods Sector Records Broad-Based Growth
Taxable supply across goods sectors increased 26.9%, rising from ₹31.61 lakh crore to ₹40.10 lakh crore during April 2026.
Growth was witnessed across all 27 commodity groups, highlighting broad-based demand across agriculture, manufacturing, metals, electronics and consumer goods.
Fastest Growing Goods Segments
- Tobacco Products: +71.6%
- Other Metals & Articles: +56.5%
- Data Processing Devices & Computers: +48.2%
- Gold & Precious Metals: +46.9%
- Electric Machinery & Electronics: +34.1%
- Animals & Animal Products: +30.8%
- Two-Wheelers & Bicycles: +29.7%
The strong performance indicates sustained consumer demand and positive outcomes from GST rate rationalisation measures introduced in September 2025.
Services Sector Shows Structural Strength
India’s services sector continued to demonstrate resilience with taxable supply rising 22.2% to ₹11.50 lakh crore.
All major service categories reported positive growth, reinforcing the sector’s role as a stable contributor to GST revenues.
Top Performing Service Segments
- Domestic & Other Services: +120.9%
- Public Administration Services: +62.5%
- Real Estate Services: +50.0%
- Legal & Accounting Services: +47.2%
- Accommodation, Food & Beverage Services: +41.6%
- Human Health & Social Care: +33.0%
- Maintenance & Repair Services: +32.4%
Strong growth in real estate, construction, logistics and hospitality points toward improving economic activity and consumer spending.
Import-Led IGST Growth Signals Manufacturing Expansion
One of the strongest revenue drivers was IGST on imports, which increased 20.2% to ₹60,166 crore.
The surge was largely driven by imports of industrial raw materials and intermediate goods used in manufacturing.
Major Import Categories Driving Growth
| Category | Growth |
|---|---|
| Passenger Vehicles | +609% |
| Coal | +391% |
| Processing Units (Computers) | +387% |
| Gold (Unwrought Forms) | +239% |
| Unrefined Copper & Anodes | +219% |
| Memory Chips | +205% |
| Lithium-Ion Batteries | +66% |
| Networking Equipment | +51% |
The increase in imports of semiconductors, processing units, copper inputs and lithium-ion batteries reflects growing investment in:
- Electronics manufacturing
- EV ecosystem
- Renewable energy supply chains
- Data centres
- Telecom infrastructure
- Industrial production
FY27 GST Revenue Growth Remains On Track
For the first two months of FY2026-27, cumulative gross GST collections reached ₹4,36,887 crore, compared with ₹4,11,437 crore during the same period last year.
This represents:
- 6.2% growth on reported figures
- 8.8% growth after adjusting for the May 2025 one-time telecom payment
The data suggests GST revenues remain on track to achieve the government’s full-year targets.
