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61%

of April-September 2026's rise in gross GST came from imports

Imports brought 61% of the GST rise in April-September 2026

Economy No. 112 2 November 2026 · 2 min read · By

Gross GST grew 11.6% in April to September 2026, to ₹12.46 lakh crore, GSTN's report for September shows. That sounds like Indians spending a lot more at home. Well, mostly it isn't: 61% of the rise came from GST paid on imports.

GST comes from 2 places: sales inside India, and goods arriving from abroad, which pay it at customs as IGST. Imports were only 30% of the total. But GST on them grew 27.1%, against 6.1% on sales at home.

It was not a one-off month. Import GST grew by between 19.1% and 34.6% every month from April; domestic GST never grew faster than 10.1%. Part of the reason is the GST Council's rate cuts of 22 September 2025: the same sale at home now often pays less tax than a year ago.

Some of the import jump is simply more buying abroad: the Commerce Ministry puts goods imports up 16.3% in dollars over the same months, and up 19.7% leaving out oil, gold, silver and gems. The tax grew faster still, and neither release says how much of that gap is the rupee.

After refunds the tilt is sharper. Net domestic GST grew 4.3%, and imports brought 69% of the rise in net GST.

So this year's GST boom is mostly an import bill. Tax on sales at home, the part closest to Indians' own spending, grew far more slowly, on lower rates. A tax take leaning this hard on imports rises and falls with what India buys from abroad.

Imports brought 61% of the rise in gross GST

Where the ₹1.29 lakh crore rise in gross GST came from, April to September 2026 against 2025, in ₹ crore. Imports are 30% of GST but brought most of the rise.

₹ CRORE OF EXTRA GST

  • Imports
  • Domestic sales
A bar of the ₹1.29 lakh crore rise in gross GST, split into ₹79,285 crore from GST on imports and ₹49,904 crore from GST on sales inside India.

Gross GST is before refunds. Both years leave out compensation cess, which ended with the September 2025 reforms.

GSTN, GST gross and net collections, April-September 2026 against 2025 (report as on 30 September 2026); rise worked out by FCF · Apr-Sep 2025 and 2026

Import GST outgrew domestic GST every month

Growth in gross GST on a year ago, by month, April to September 2026, in %. GST on imports grew 19-35% each month; on sales at home, no more than 10.1%.

Paired bars for April to September 2026: GST on imports grew 25.8%, 19.1%, 34.6%, 28.8%, 29.0% and 25.9%; GST on domestic sales grew 4.3%, minus 2.6%, 6.5%, 10.1%, 9.3% and 10.1%.

GROWTH ON A YEAR AGO, %

GST on importsGST on domestic sales

May 2025 included about ₹10,000 crore of a one-time telecom spectrum payment; without it, GSTN puts May 2026's domestic growth at 5%.

GSTN, GST gross and net collections, monthly reports for April to September 2026, gross domestic and gross import revenue, growth on a year ago · Apr to Sep 2026

GST on imports grew faster than imports themselves

Growth on a year ago, April to September 2026, in %. Goods imports rose 16.3% in dollars, the GST on them 27.1% in rupees.

GROWTH ON A YEAR AGO, %

GST on imports
Imports ex oil, gems
All imports
GST at home
4 bars of growth from April to September 2026: GST on imports 27.1%, goods imports other than oil, gold, silver and gems 19.7% in dollars, all goods imports 16.3% in dollars, and GST on domestic sales 6.1%.

Imports are goods, in US dollars; GST is in rupees. Oil is petroleum; gems are gems and jewellery, including gold, silver, pearls and precious stones. GST at home is GST on sales inside India.

GSTN, GST report for September 2026 (April-September); Department of Commerce, foreign trade release for September 2026 (15 October 2026); growth worked out by FCF for the trade lines · Apr-Sep 2025 and 2026

Sources