Gross GST collections in May 2026 rose 3.2% year‑on‑year to ₹1.94 lakh crore from ₹1.88 lakh crore a year earlier, driven by expansion in domestic supplies and stronger import collections; net receipts after refunds remained positive.
Revenue and Component Breakup
- Gross GST: ₹1.94 lakh crore in May 2026; 3.2% YoY growth.
- CGST: ₹37,397 crore (central share on intra‑state supplies).
- SGST: ₹45,143 crore (state share on intra‑state supplies).
- IGST: ₹51,990 crore (inter‑state supplies and imports).
- Compensation Cess: Part of the gross pool to compensate states for revenue shortfall.
Transaction and Refund Metrics
- Goods Taxable Supplies: Volume up 26.9% YoY.
- Services Taxable Supplies: Volume up 22.2% YoY.
- Total GST Refunds: ₹27,281 crore in May 2026; 2.6% YoY rise.
Structural Features of GST
- Dual GST Model: Concurrent levies by Centre and States—CGST, SGST/UTGST, IGST.
- Destination Principle: Tax accrues to the state of consumption, not origin.
- GST Council: Federal forum for rate and rule recommendations; decisions require 75% majority.
IASPOINT Booster Facts
- Constitutional Amendment: GST introduced by the 101st Amendment Act, 2016; added Articles 246A, 269A and 279A.
- Voting Share: Centre holds 33.33% voting power; States combined 66.67%.
- GSTN: Non‑profit IT body providing registration, return filing and invoice matching infrastructure.
- E‑Way Bill: Mandatory for movement of goods valued above ₹50,000.
- Anti‑Profiteering: National Anti‑Profiteering Authority functions now handled by the Competition Commission of India.