GST collections climbed to Rs 2.04 lakh crore in September, a 14.7% jump over the same month last year, the Ministry of Finance said. Domestic transaction revenue rose 10.1% to Rs 1.38 lakh crore, while import GST surged 25.9% to Rs 65,525 crore.
IGST collections hit Rs 1.20 lakh crore, up 18% from Rs 1.02 lakh crore in September 2025. Central GST stood at Rs 37,762 crore, State GST at Rs 45,363 crore. Total refunds fell 3% to Rs 27,001 crore, a sign of tighter compliance.
Abhishek Jain, indirect tax head at KPMG, warned that the import GST rise demands a closer look at raw‑material versus finished‑goods imports. He added that net GST collections grew 18.1% to Rs 1.77 lakh crore, signalling a stronger fiscal base.
Maharashtra led the states with Rs 29,986 crore, a 15% increase, followed by Karnataka at Rs 13,884 crore (16%) and Gujarat at Rs 12,222 crore (17%). Uttar Pradesh and Telangana both recorded 18% growth.
The finance ministry will use the data to assess the need for adjustments to incentive schemes like PLI and to consider tightening import duty frameworks in the next policy meeting.