GST Collections India: India’s Goods and Services Tax (GST) collections rose by 6.2% in January 2026, reaching over ₹1.93 lakh crore, as reported by reliable sources. This increase is primarily attributed to higher revenues from imports. Meanwhile, net GST revenues experienced a growth of 7.6%, amounting to approximately ₹1.71 lakh crore.
The Union Budget 2026, announced on February 1, highlighted these figures, underscoring the economic strategies undertaken by the government. The total refunds, however, saw a decline of 3.1%, totaling ₹22,665 crore. Notably, cess collection from tobacco products stood at ₹5,768 crore, a significant decrease compared to ₹13,009 crore in the previous year when a broader cess was levied on luxury and sin goods.
Since September 22, 2025, GST rates on about 375 items were reduced, making goods more affordable. This change has impacted revenue collections, as the compensation cess is now limited to tobacco and related products.
Looking ahead, the government’s focus on boosting import revenues and adjusting GST rates is expected to influence economic growth, with further policy adjustments anticipated in the coming months.
Published in SouthAsianDesk, February 1st, 2026
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