The gross goods and services tax (GST) collections came in at Rs 1.89 lakh crore in September ( August transactions), up 9.1% year. The mop-up is decent as by August, there was anticipation of large-scale reduction in GST rates, which might have led to deferment of purchases.

Why net collections grew slower

However, net GST receipts grew by 5% to Rs 1.6 lakh crore in September, as refunds rose by 40%.

The GST collections reached a record high of Rs 2.37 lakh crore in April 2025, before decreasing to Rs 2.01 lakh crore in May, and then further moderating to Rs 1.85 lakh crore in June.

“While a short-term slowdown was expected as consumers deferred purchases ahead of the new GST rates effective from September 22, the impact was partially offset by businesses strategically adjusting p

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