Net GST Revenue Surges 20.4% to ₹1.7 Trillion Driven by Import Taxes: Government Data

Net GST receipts grew 20.4% YoY to ₹1.73 trillion in May, driven by a 72.9% jump in Customs revenue and a 4% decline in refunds, despite a 17% sequential drop from April’s ₹2.09 trillion, says finance ministry data.
Gross GST collection rose 16.4% YoY to ₹2.01 trillion in May, with domestic revenue up 13.7% and import-related revenue surging 25.2%, supported by strong business activity and higher eway bill generation, signaling recovery and fiscal strength.
Experts note May’s GST numbers reflect robust consumption and economic growth, with import revenue rising 25%, though a 21% sequential dip hints at shifting consumer spending amid global uncertainties and year-end sales timing.
State-wise, smaller regions like Lakshadweep and Manipur showed sharp growth, while larger states including Maharashtra and Tamil Nadu posted solid gains; however, Mizoram and Uttarakhand experienced declines, indicating varied regional economic dynamics.

Customs Importation