Gross GST collections rise 6.2% to over ₹1.93 lakh crore in January

Gross GST collections roseate 6.2 per cent to implicit ₹1.93 lakh crore successful January, chiefly connected higher revenues from imports, sources said connected Sunday (February 1, 2026).

Total refunds declined 3.1% to ₹22,665 crore.

Union Budget 2026 updates connected February 1, 2026

Net Goods and Services Tax (GST) revenues, however, grew 7.6% to astir ₹1.71 lakh crore successful January.

Cess postulation (from baccy products) successful January stood astatine ₹5,768 crore. This compares to ₹13,009 crore successful collections successful January past twelvemonth erstwhile a cess was levied connected luxury, misdeed and demerit goods specified arsenic cars, and baccy products.

Effective September 22, 2025, GST rates connected astir 375 items were slashed, making goods cheaper. Also, a compensation cess is levied lone connected baccy and related products, arsenic opposed to luxury, misdeed and demerit goods earlier. The lowering of GST rates has impacted gross collections.

Gross taxation collections from home transactions grew 4.8% to₹1.41 lakh crore, portion import revenues were up 10.1% to ₹52,253 crore successful January.