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GST Collections at ₹1.94 Lakh Cr in May 2026, Show 3.2% YoY Growth Amid Strong Domestic Demand

EconomyPolityHIGH
Target:UPSC GS-IIIMPSCSSC GATeachingPrelims HighMains MediumStatic GK Link
01 Jun 2026
~2 min
Source: The Hindu
Key Data:₹1.94 lakh crore3.2%₹1.88 lakh crore₹37,397 crore₹45,143 crore₹51,990 crore
Bodies:GST Council
Practice MCQs from today's news ▸
What This Article Covers

1.Gross GST revenue in May 2026 stood at ₹1.94 lakh crore, compared to ₹1.88 lakh crore in May 2025.

2.The growth was supported by a 26.9% increase in taxable supplies of goods and a 22.2% rise in services, indicating resilient domestic consumption.

3.Net GST revenue, after adjusting for refunds of ₹27,281 crore, grew by 3.3% to approximately ₹1.67 lakh crore.

The Big Picture
Prelims · HighMains · Medium

India's GST revenue for May 2026 reached ₹1.94 lakh crore, marking a 3.2% increase from the previous year, driven by robust growth in taxable supplies for both goods and services. This data is a crucial high-frequency indicator of economic activity and government finances, directly relevant for economy-based questions in all major government exams.

Exam Lens

Quick Exam Facts From News

Gross GST (May 2026)₹1.94 lakh crore
YoY Growth Rate3.2%
CGST Collection (Domestic)₹37,397 crore
SGST Collection₹45,143 crore
IGST Collection (Domestic)₹51,990 crore
IGST from Imports₹59,654 crore (up 19.1%)
GST Refunds₹27,281 crore (up 2.6%)
Net GST Revenue~₹1.67 lakh crore (up 3.3%)
Previous Record (April)₹2.43 lakh crore

1-Minute Revision

  • ›Gross GST (May 2026): ₹1.94 lakh crore
  • ›YoY Growth Rate: 3.2%
  • ›Target this Data: Gross GST collection for May 2026 was ₹1.94 lakh crore, a 3.2% YoY growth.
  • ›Target this Nodal Body: The GST Council, chaired by the Union Finance Minister.
  • ›Target this Legal Point: GST is governed by the Constitution (101st Amendment) Act, 2016, and administered via CGST, SGST, and IGST Acts.

Mastered this topic? Test your knowledge with a full MCQ quiz.

Practice exam-style questions, track your score, and strengthen your recall.

Q1Static LinkageEasy

Which constitutional body is responsible for making recommendations on GST rates and related matters?

Q2Statement-basedMedium

Consider the following statements regarding GST collections for May 2026 as per the news article:

1. Gross GST collection showed a year-on-year growth of 3.2%.

2. The growth in taxable supplies for the services sector was higher than that for the goods sector.

3. Net GST revenue, after adjusting for refunds, was approximately ₹1.67 lakh crore.

Which of the statements given above is/are correct?

Q3Data-centricMedium

According to the news article, what was the amount of Integrated GST (IGST) collected specifically from imports in May 2026?

Q4Application/ImpactMedium

The growth in GST collections, as reported in the news, is primarily seen as an indicator of what?

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