India’s Goods and Services Tax (GST) collections continued to show steady growth in January 2026, with gross GST revenue reaching ₹1,93,384 crore, reflecting a 6.2% year-on-year increase compared to January 2025. The provisional figures released by the authorities point to sustained momentum in indirect tax collections during the month.
After accounting for refunds, net GST revenue for January 2026 stood at ₹1,70,719 crore, representing a 7.6% increase over the corresponding period last year.
Key Collection Highlights
The January 2026 GST data highlights several positive trends in revenue mobilisation:
- Monthly performance: Gross GST revenue increased from ₹1,82,094 crore in January 2025 to ₹1,93,384 crore in January 2026, marking 6.2% annual growth. Net collections after refunds rose to ₹1,70,719 crore, up 7.6% year-on-year.
- Year-to-date strength: For the period April 2025 to January 2026, cumulative gross GST collections reached ₹18,43,423 crore, registering an 8.3% increase over the same period last year. Net collections during this period amounted to ₹15,95,752 crore, reflecting 6.8% growth.
Domestic and Import Revenue Trends
A breakdown of revenue sources shows differing growth patterns between domestic transactions and imports:
- Domestic GST collections in January 2026 amounted to ₹1,41,132 crore, recording 4.8% growth over January 2025.
- Import-related IGST collections rose more sharply, increasing 10.1% year-on-year to ₹52,253 crore.
On a year-to-date basis (April–January), import GST collections grew by 13.4%, significantly higher than the 6.6% growth recorded in domestic GST collections over the same period.
GST Revenue by Component
The composition of gross GST collections in January 2026 was as follows:
| Component | Amount (₹ crore) | Year-on-Year Growth |
| CGST | 38,792 | 7.5% |
| SGST | 47,817 | 6.4% |
| IGST | 1,06,775 | 5.6% |
These component-wise figures together add up to the total gross GST collection of ₹1,93,384 crore for the month.
SGST and Settlement Performance Across States
The state-wise data released for January 2026 relates specifically to State GST (SGST) and the SGST portion of Integrated GST (IGST) settled to States and Union Territories, rather than total GST collections.
Leading States (Pre-settlement SGST)
- Maharashtra remained the largest contributor, with pre-settlement SGST of ₹10,572 crore, showing 8% growth over January 2025. Its post-settlement SGST revenue stood at ₹17,747 crore.
- Gujarat recorded ₹4,338 crore in pre-settlement SGST collections, an 8% increase year-on-year.
- Karnataka reported ₹4,425 crore in pre-settlement SGST, reflecting 9% growth compared to last year.
Notable Growth Trends
Several states recorded strong growth in pre-settlement SGST during January 2026:
- Arunachal Pradesh registered 24% growth in pre-settlement SGST collections.
- Punjab posted 14% growth.
- Odisha saw 13% growth in pre-settlement SGST, although its post-settlement SGST declined by 10% during the month.
Refunds and Tax Administration
Refund trends during January 2026 showed mixed movement:
- Total GST refunds declined 3.1% year-on-year to ₹22,665 crore.
- Export-related GST refunds processed through ICEGATE increased 2.9% to ₹9,546 crore in January. On a year-to-date basis, export refunds rose 11.0%.
For the April–January period, total refunds increased by 18.9%, indicating a higher volume of refund processing over the year despite the monthly moderation.
Expansion in GST Registrations
The GST system continues to widen its registration base. As of 31 January 2026, the number of GSTINs reported in the system increased from 67.86 lakh to 92.93 lakh, representing an increase of roughly 37% compared to the earlier base period shown in the statement.
Compensation Cess Trends
The net compensation cess collected in January 2026 declined sharply to ₹5,768 crore, compared to ₹13,009 crore in January 2025. The official note clarifies that the compensation cess continues as a transitory arrangement until the related loan and interest liabilities are fully discharged.
Areas of Weakness in Post-Settlement SGST
While overall collections improved, some states recorded significant declines in post-settlement SGST revenues in January 2026:
- Jharkhand: –46%
- Chhattisgarh: –23%
- Madhya Pradesh: –15%
These variations highlight the impact of settlement adjustments and uneven month-to-month revenue distribution across states.
Conclusion
The provisional GST figures for January 2026 indicate continued growth in India’s indirect tax collections, with both monthly and year-to-date revenues showing positive momentum. Higher import-related GST growth, steady domestic collections, and a broadening GST registration base collectively support overall revenue stability.
At the same time, variations in state-level post-settlement SGST outcomes and the evolving refund profile underline the importance of closely monitoring regional and administrative trends as the financial year progresses.
Note: All figures are provisional and subject to final adjustment by the concerned authorities.
GSTN Monthly GST Collection Data as on 01/02/2026 for the m/o January 2026