India’s Goods and Services Tax (GST) collections have scaled a new peak in March 2026, crossing the psychological barrier of ₹2 lakh crore. According to the latest data released by the Ministry of Finance on April 1, the gross GST collection for March stood at a staggering ₹2.10 lakh crore, marking an 8.8% year-on-year growth compared to March 2025’s ₹1.83 lakh crore. This surge represents the highest collection in the last 10 months.

For the fiscal year 2026, the total gross GST revenue witnessed an 8.3% increase, reaching a cumulative ₹22.27 lakh crore. A significant driver for this month’s peak was the 17.8% jump in import revenue (IGST), indicating robust international trade and domestic consumption. However, the growth story across states remained uneven. While industrial powerhouses like Maharashtra, Karnataka, and Telangana posted double-digit growth of 17%, 14%, and 19% respectively, West Bengal’s contribution saw a tepid growth of just 3%.

Despite the record numbers, the slowdown in states like West Bengal, Delhi, and Haryana highlights a regional disparity in consumption and industrial output. The “Net GST” collection, after accounting for refunds, also showed a healthy growth of 7.1%. With the government aiming for a ‘Viksit Bharat’ (Developed India), these figures serve as a vital economic indicator of resilient domestic demand and improved tax compliance. As the new fiscal year begins, all eyes will be on whether this momentum can be sustained to surpass the all-time record of ₹2.37 lakh crore set in April last year.