समाचार Samāchār · Business · 1 November 2026

GST hits ₹2.31 lakh crore in October. Lower rates are now paying for themselves

Gross GST rose 22.9% in October, with import revenue up 42%. A year after the rate cuts, the tax base is widening, not shrinking.

India collected ₹2.31 lakh crore in gross GST in October. That is 22.9% more than in October 2025, according to provisional finance ministry data released on Sunday. Net revenue after refunds was ₹2.03 lakh crore, up 25.6%. Refunds rose only 6.5% to ₹27,934 crore.

The base matters. October 2025 was the first full month after the GST rate cuts of 22 September 2025. It logged ₹1.88 lakh crore on a comparable basis, without cess. A year on, the lower rates are bringing in more tax, not less. Domestic revenue rose 15.8% to ₹1.59 lakh crore. For April to October, gross GST stands at ₹14.77 lakh crore, up 13.2%. Net revenue is ₹12.69 lakh crore, up 12.6%.

Imports grew fastest. GST on imports rose 42.2% to ₹72,246 crore. Part of that is festive stocking. Part is a reminder of how much India still buys from outside. Every line in that number is a market a domestic manufacturer could serve.

The growth is broad across states. Maharashtra collected ₹35,150 crore in domestic GST, up 13%. Karnataka rose 18%, Gujarat 16% and Haryana 17%. Uttar Pradesh and Bihar each rose 24%. Assam grew 47%. Consumption is rising beyond the usual industrial centres.

Credit goes to the GST Council, the Centre and the states that agreed to cut and simplify rates together. It shows what easier compliance can do. Lower rates, faster refunds and fewer disputes bring more businesses into the system. The task now is to keep compliance simple for small firms and to turn import demand into Indian production.

What a founder takes from it: Simpler and lower rates did not cost the exchequer. They widened the base. The next gain is on the supply side: the 42% jump in import GST is a list of goods India should learn to make at home and for the world.