India's gross Goods and Services Tax (GST) collections moderated to Rs 1.94 lakh crore in May 2026 from a record Rs 2.42 lakh crore in April, though revenues remained 3.2% higher than the Rs 1.88 lakh crore collected in the same month last year, according to official data released on Sunday.

Net GST revenue for May rose 3.3% year-on-year to Rs 1.67 lakh crore, compared with Rs 1.62 lakh crore in May 2025. Total refunds increased 2.6% to Rs 27,281 crore during the month, while cumulative refunds for the financial year so far climbed 10.9% to Rs 59,063 crore.

The growth in collections continued to be driven by imports. Gross GST revenue from imports rose 19.1% year-on-year to Rs 59,654 crore in May, while gross domestic revenue declined 2.6% to Rs 1.35 lakh crore. On a net basis, customs GST collections jumped 19.7% to Rs 49,403 crore, whereas net domestic revenue fell 2.3% to Rs 1.18 lakh crore.

For the first two months of FY27, gross GST collections rose 6.2% to Rs 4.37 lakh crore, while net GST revenue increased 5.5% to Rs 3.78 lakh crore.