Overview

• Net GST revenue stood at ₹1.60 lakh crore, up 5% year on year, as refunds surged 40.1% to ₹28,657 crore.
• The domestic component rose 6.8% to ₹1.36 lakh crore, while GST from imports increased 15.6% to ₹52,492 crore.
• September marked the ninth straight month above ₹1.8 lakh crore, with average monthly receipts in H1 FY26 just shy of ₹2 lakh crore, according to official data and expert estimates.
• GST 2.0 took effect on September 22, shifting many items to lower slabs, and economists expect the impact on prices, consumption and collections to become clearer in subsequent months.
• State-level trends were uneven, with major manufacturing states generally posting single-digit growth in September, analysts noted.