India’s September GST collections rise 14.7% to ₹2.03 lakh crore

India’s gross Goods and Services Tax (GST) collections reached ₹2.03 lakh crore in September, up 14.7% from a year earlier, according to provisional government figures. Import-linked revenue rose substantially faster than domestic collections, while refunds fell and net collections increased. Revenue from imports climbed 25.9% year on year to ₹65,525 crore. Domestic GST revenue rose 10.1% to about ₹1.38 lakh crore. The figures show import-linked collections making up a larger share of gross revenue than domestic collections, though the reports do not establish how much of the import growth came from exchange rates, prices or higher import volumes. Net GST revenue after refunds increased 18.1% to ₹1.76 lakh crore. Refunds fell 3% to about ₹27,001 crore. Domestic refunds dropped by more than 13% to ₹13,504 crore, while export refunds rose 10% to about ₹13,490 crore. Manoj Mishra of Grant Thornton Bharat said rupee depreciation and elevated crude and commodity prices had contributed to faster growth in import-linked GST. He said exchange rates and import volumes would affect whether that increase could be sustained.