GST Hits Record ₹2.42 Lakh Crore in April on Strong Import Growth

The Goods and Services Tax (GST) collections of the country has reached the all-time high of ₹2.42 lakh crore in the month of April 2026. With this feat it marks the strong start to the new financial year. This record-breaking figure will reflects the robust economic activity, strong imports and the year-end business adjustments. Notably this milestone was achieved without the any compensation cess and making it even more significant for the country’s tax system. As compared to the ₹2.33 lakh crore in the last year in April 2025 the collections recorded is the year-on-year growth of 8.7%.

Key Drivers Behind the Record GST Collection

The several economic and policy-related factors have contributed to this surge in GST revenues.

1. Strong Import Growth

The imports have played the major role to boosting collections.

• Total ₹57,000+ crore collected from the imports.
• Also experienced the growth of 25.8% year-on-year.

Also the higher import activity which typically leads to increased the tax revenue and will showcase the strong demand and consumption trends in the economy.

2. Year-End Stock Clearance

Also the businesses who are clearing inventories in the March significantly contributed to the higher tax payments.

• It have led to the increased sales and billing activity.
• And it have higher tax liability due to stock liquidation.

3. Domestic GST Performance

• The domestic collections has been remained stable as the total ₹1.85 lakh crore came from domestic sources
• It had the growth of the 4.3%.

Net GST Collections and Refund Trends

After accounting for the refunds this net GST collection stood at around the ₹2.11 lakh crore and it i showing the 7.3% increase compared to last year.

Also the refunds are increased by 19.3% overall.

Also the domestic refunds surged by the 54%.

This is largely due to the inverted duty structure where the taxes on inputs are higher than on final goods and it is leading to refund claims.