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India's Goods and Services Tax (GST) collections for February increased by 8.1% year-on-year to reach around INR 1.84 lakh crore, driven by higher import revenues and consistent domestic demand. After accounting for refunds, net GST receipts stood at about INR 1.61 lakh crore. Revenue from imports surged over 17%, while gross domestic revenue rose 5.3%, reflecting stable consumption and industrial activity. Export-related refunds grew 26.5%, indicating improved liquidity support for businesses. While some states reported declines, others achieved single-digit growth, showing uneven but broad-based economic activity.
India's gross GST collections for February grew 8.1% compared with the same month last year, reaching roughly INR 1.84 lakh crore. The rise was mainly supported by increased revenue from imported goods and stable domestic demand, highlighting the continuing resilience of the Indian economy. Experts note that these figures reflect both cyclical recovery and structural gains from GST rate rationalisation. Advertisement
Tax specialists explained that several smaller states, including Jammu & Kashmir, Bihar, Sikkim, Nagaland, Manipur, Meghalaya, Odisha, and Ladakh, showed strong growth in collections, suggesting that economic activity was becoming increasingly widespread. Growth in GST collections has more than compensated for earlier rate reductions, with consumption levels supporting revenue gains.
Gross domestic revenue increased 5.3% to approximately INR 1.35 lakh crore, underlining steady consumer and business spending. Import-related revenues climbed 17.2% to INR 47,837 crore, reflecting robust industrial demand and higher inflows of goods. Experts say that trade activity and better customs compliance currently provide a stronger boost to overall collections than domestic demand alone.
Refunds continued to accelerate, rising 10.2% year-on-year to INR 22,595 crore. Export-related integrated GST refunds saw a 26.5% increase to INR 12,656 crore, indicating that businesses are benefiting from improved liquidity. After refunds, net GST collections rose 7.9% to around INR 1.61 lakh crore.
The growth pattern across states was uneven. Large states such as Tamil Nadu (-6%), Madhya Pradesh (-8%), and Rajasthan (-1%) reported declines in monthly GST collections, while states like Uttar Pradesh (5%) and Maharashtra (6%) recorded modest single-digit growth. Experts say this mix shows varying regional economic momentum, which may require attention from policymakers.
Analysts also noted that while monthly GST collections have been approaching the INR 2 lakh crore mark, rate cuts have delayed consistent achievement of this milestone. Overall, the February numbers indicate that India's GST system is maturing, balancing revenue growth with liquidity flows for businesses, and reflecting broad-based economic activity despite global uncertainties.
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