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

Gross GST collections rose 6.2 per cent to over ₹1.93 lakh crore in January, mainly on higher revenues from imports, sources said on Sunday (February 1, 2026).

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

Union Budget 2026 updates on February 1, 2026

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

Cess collection (from tobacco products) in January stood at ₹5,768 crore. This compares to ₹13,009 crore in collections in January last year when a cess was levied on luxury, sin and demerit goods such as cars, and tobacco products.

Effective September 22, 2025, GST rates on about 375 items were slashed, making goods cheaper. Also, a compensation cess is levied only on tobacco and related products, as opposed to luxury, sin and demerit goods earlier. The lowering of GST rates has impacted revenue collections.

Gross tax collections from domestic transactions grew 4.8% to₹1.41 lakh crore, while import revenues were up 10.1% to ₹52,253 crore in January.