New Delhi, June 1 : The gross Goods and Services Tax (GST) collections rose 3.2 per cent year-on-year to around Rs 2 lakh crore in May, despite geopolitical tensions in West Asia, according to data from govt sources on Monday.

As per data, gross GST revenue stood at Rs 1,94,184 crore in May, compared to Rs 1,88,172 crore in the same month last year. Meanwhile, net GST collections reached Rs 1,66,904 crore, a growth of 3.3 per cent over the corresponding period last year.

Total refunds during the month increased 2.6 per cent year-on-year to Rs 27,281 crore.

Adjusted for this, gross GST revenue growth for May 2026 stood at around 9 per cent, while adjusted domestic gross GST growth was estimated at about 5 per cent.

Gross domestic GST revenue stood at Rs 1,34,530 crore during the month, down 2.6 per cent from a year ago.

Meanwhile, gross revenue from imports rose sharply by 19.1 per cent year-on-year to Rs 59,654 crore, indicating continued strength in import-related tax collections.

Adjusted net GST revenue growth for May stood at around 10 per cent after excluding the impact of the one-off payment recorded last year.

For the first two months of the current financial year, gross GST collections increased 6.2 per cent to Rs 4.37 lakh crore, while net GST revenue rose 5.5 per cent to Rs 3.78 lakh crore.

In addition, May 2025 collections included nearly Rs 10,000 crore of one-time payment made by a telecom operator towards spectrum allocation.

Notably, GST collection surged 8.7 per cent year-on-year to a record Rs 2,42,702 crore in the month of April. While net GST revenue for last month stood at Rs 2,10,909 crore, registering a 7.3 per cent annual growth (after accounting for refunds).

/IANS