GST Collections March 2026 Crosses ₹2 Lakh Crore Mark, Up 8.8% YoY
AuthorMehul Jagwani
Reviewed ByCA Ajay Savani
Summary:
India's GST collection for March 2026 reached ₹2,00,064 crore, marking an 8.8% year-on-year growth over March 2025's ₹1,83,845 crore. After refunds of ₹22,074 crore, the net collection stood at ₹1,77,990 crore, up 8.2% YoY.
India's GST collection crossed ₹2 lakh crore in March 2026, the highest single-month collection of FY 2025-26.
March matters more than any other month. Companies close their books, clear pending dues, and push final invoices to meet annual targets. This makes March's GST figures the clearest indicator of how the full financial year actually performed.
This piece breaks down the total collection, the state-by-state numbers, and what it means for your business.
GST Collection in March 2026: Key Highlights & Revenue Data
- March 2026 gross GST collection: ₹2,00,064 crore — up 8.8% YoY from ₹1,83,845 crore in March 2025
- First time India has crossed the ₹2 lakh crore mark in a single month
- Up ₹16,000+ crore month-on-month from February 2026's ₹1,83,609 crore
Full Year FY 2025-26
- Gross collections: ₹22,27,096 crore - up 8.3% YoY
- Net collections (after refunds): ₹19,34,766 crore - up 7.1% YoY
Two signals worth noting:
- Imports surging: Import-related GST jumped 17.8% YoY to ₹53,861 crore, outpacing domestic collection growth of 5.9% - reflecting deeper global trade integration.
- Compliance improving: Refunds rose 13.8% to ₹22,074 crore, with domestic refunds up 31.2% - faster processing, good news for exporters and businesses with pending ITC claims.
Breaking Down the Numbers: What's Inside ₹2 Lakh Crore?
Let's peel back the layers of the ₹2,00,064 crore headline figure:
| Component | Amount (₹ Crore) |
| CGST (Central GST) | ₹40,549 crore |
| SGST (State GST) | ₹53,268 crore |
| IGST (Integrated GST — Domestic) | ₹52,385 crore |
| IGST (Integrated GST — Imports) | ₹53,861 crore |
| Total Gross GST Collection | ₹2,00,064 crore |
| Total Refunds | ₹22,074 crore |
| Net GST Collection | ₹1,77,990 crore |
Refund Breakdown:
- Domestic Refunds: ₹14,860 crore (CGST: ₹3,595 cr | SGST: ₹4,643 cr | IGST: ₹6,622 cr)
- Export IGST Refunds (via ICEGATE): ₹7,214 crore
- Total Refunds: ₹22,074 crore
A couple of things worth noting here:
Domestic GST revenues grew 5.9% YoY, reaching ₹1,46,202 crore - a sign that businesses within India are active and transacting at a healthy, sustainable pace. Import revenues, however, were the real star of the show, surging 17.8% YoY to ₹53,861 crore. This indicates India's import activity is booming, which, combined with strong IGST collections, paints a picture of a nation deeply integrated into global trade.
The net collection of ₹1,77,990 crore, after refunds, grew 8.2% on a year-on-year basis. Domestic refunds of ₹14,860 crore up 31.2%, show that the government is actively clearing pending claims, which is excellent news for businesses waiting on working capital. Export IGST refunds through ICEGATE, however, declined 10.6% to ₹7,214 crore, reflecting an easing in export refund volumes compared to March 2025.
It is also worth noting that Net Cess Revenue for March 2026 turned negative at ₹(177) crore, primarily due to higher cess refunds and adjustments. This is a transitory arrangement as compensation cess continues only until the entire loan and interest liability is fully discharged.
State-wise GST Collection in March 2026
(Excluding GST on Import of Goods)
Here is the complete state-wise GST breakdown for March 2026, covering both pre-settlement and post-settlement SGST figures:
| State/UT | Pre-Settlement SGST Mar-25 | Pre-Settlement SGST Mar-26 | Growth (%) | Post-Settlement SGST Mar-25 | Post-Settlement SGST Mar-26 | Growth (%) |
| Jammu and Kashmir | 257 | 207 | -20% | 692 | 652 | -6% |
| Himachal Pradesh | 225 | 244 | 9% | 454 | 510 | 12% |
| Punjab | 752 | 888 | 18% | 2,028 | 2,355 | 16% |
| Chandigarh | 67 | 67 | 0% | 223 | 205 | -8% |
| Uttarakhand | 527 | 458 | -13% | 772 | 891 | 16% |
| Haryana | 2,011 | 2,040 | 1% | 3,200 | 3,828 | 20% |
| Delhi | 1,541 | 1,583 | 3% | 3,148 | 2,904 | -8% |
| Rajasthan | 2,049 | 2,239 | 9% | 4,036 | 4,500 | 11% |
| Uttar Pradesh | 3,207 | 3,345 | 4% | 6,969 | 7,530 | 8% |
| Bihar | 1,574 | 1,758 | 12% | 3,252 | 3,688 | 13% |
| Sikkim | 33 | 54 | 64% | 95 | 111 | 16% |
| Arunachal Pradesh | 83 | 80 | -3% | 197 | 192 | -2% |
| Nagaland | 36 | 39 | 8% | 102 | 105 | 3% |
| Manipur | 28 | 41 | 46% | 76 | 119 | 56% |
| Mizoram | 23 | 33 | 39% | 82 | 93 | 14% |
| Tripura | 84 | 110 | 31% | 178 | 190 | 7% |
| Meghalaya | 85 | 64 | -25% | 170 | 154 | -10% |
| Assam | 694 | 592 | -15% | 1,435 | 1,356 | -5% |
| West Bengal | 2,147 | 2,201 | 3% | 3,962 | 3,844 | -3% |
| Jharkhand | 902 | 987 | 9% | 1,306 | 788 | -40% |
| Odisha | 2,039 | 2,174 | 7% | 2,552 | 2,115 | -17% |
| Chhattisgarh | 1,304 | 1,073 | -18% | 2,061 | 1,244 | -40% |
| Madhya Pradesh | 1,417 | 1,421 | 0% | 3,368 | 3,221 | -4% |
| Gujarat | 4,246 | 4,450 | 5% | 6,193 | 6,835 | 10% |
| Dadra and Nagar Haveli and Daman & Diu | 60 | 70 | 16% | 72 | 107 | 49% |
| Maharashtra | 10,926 | 12,752 | 17% | 15,767 | 18,001 | 14% |
| Karnataka | 4,178 | 4,746 | 14% | 7,417 | 7,565 | 2% |
| Goa | 229 | 243 | 6% | 378 | 396 | 5% |
| Lakshadweep | 1 | 2 | 42% | 11 | 9 | -14% |
| Kerala | 1,265 | 1,373 | 9% | 2,731 | 2,860 | 5% |
| Tamil Nadu | 4,565 | 4,195 | -8% | 6,764 | 6,882 | 2% |
| Puducherry | 49 | 48 | -1% | 118 | 131 | 11% |
| Andaman & Nicobar Islands | 21 | 32 | 58% | 52 | 69 | 31% |
| Telangana | 1,822 | 2,168 | 19% | 3,685 | 4,020 | 9% |
| Andhra Pradesh | 1,399 | 1,416 | 1% | 3,015 | 3,123 | 4% |
| Ladakh | 22 | 18 | -16% | 40 | 36 | -11% |
| Other Territory | 21 | 57 | 174% | 106 | 185 | 74% |
| Grand Total | 49,891 | 53,268 | 7% | 86,707 | 90,817 | 5% |
State-wise Analysis of GST Collection March 2026
- Maharashtra: ₹18,001 crore post-settlement SGST, up 14% YoY. Pre-settlement: ₹12,752 crore, up 17% - consistent, as expected
- Haryana: 20% post-settlement growth - driven by logistics, auto ancillary manufacturing, and industrial formalisation
- Telangana: 19% pre-settlement growth. Post-settlement: ₹4,020 crore, up 9% - IT, pharma, and manufacturing doing the heavy lifting
- Punjab: 16% post-settlement growth - trade and agri-linked sectors picking up
- Bihar: 13% post-settlement, 12% pre-settlement growth - formalisation and manufacturing activity accelerating
- Manipur: 56% post-settlement growth - highest in the country, though from a smaller base
- Jharkhand & Chhattisgarh: Both down 40% post-settlement - cyclical mining revenue swings and IGST settlement adjustments, not structural weakness
- Odisha: Down 17% post-settlement
- Delhi: Down 8% post-settlement - likely inter-state supply chain shifts in consumer goods and services
- Tamil Nadu: Only 2% post-settlement growth despite usual strong performance - worth tracking in April data
State-wise SGST Settlement: Monthly Comparison (Before vs After)
Here is the cumulative state-wise pre- and post-settlement SGST picture for the full FY 2025-26 (April 2025 to March 2026):
| State/UT | Pre-Settlement SGST 2024-25 | Pre-Settlement SGST 2025-26 | Growth | Post-Settlement SGST 2024-25 | Post-Settlement SGST 2025-26 | Growth |
| Jammu and Kashmir | 2,991 | 2,923 | -2% | 8,672 | 8,002 | -8% |
| Himachal Pradesh | 2,709 | 2,655 | -2% | 6,137 | 6,332 | 3% |
| Punjab | 9,193 | 9,928 | 8% | 24,749 | 26,843 | 8% |
| Chandigarh | 777 | 788 | 1% | 2,399 | 2,447 | 2% |
| Uttarakhand | 5,847 | 5,990 | 2% | 9,360 | 10,116 | 8% |
| Haryana | 23,285 | 24,836 | 7% | 39,743 | 48,289 | 22% |
| Delhi | 17,788 | 19,159 | 8% | 36,211 | 37,374 | 3% |
| Rajasthan | 18,736 | 19,863 | 6% | 44,007 | 46,334 | 5% |
| Uttar Pradesh | 34,845 | 35,685 | 2% | 84,264 | 84,800 | 1% |
| Bihar | 9,925 | 11,150 | 12% | 29,295 | 31,966 | 9% |
| Sikkim | 399 | 513 | 29% | 982 | 1,171 | 19% |
| Arunachal Pradesh | 567 | 739 | 31% | 1,831 | 2,018 | 10% |
| Nagaland | 296 | 388 | 31% | 1,078 | 1,184 | 10% |
| Manipur | 348 | 365 | 5% | 1,116 | 1,173 | 5% |
| Mizoram | 264 | 224 | -15% | 937 | 932 | -1% |
| Tripura | 578 | 644 | 11% | 1,745 | 1,700 | -3% |
| Meghalaya | 646 | 707 | 9% | 1,809 | 1,796 | -1% |
| Assam | 6,533 | 6,790 | 4% | 15,557 | 17,764 | 14% |
| West Bengal | 24,085 | 24,939 | 4% | 46,783 | 46,548 | -1% |
| Jharkhand | 8,923 | 9,537 | 7% | 14,174 | 12,418 | -12% |
| Odisha | 18,108 | 19,262 | 6% | 26,142 | 23,775 | -9% |
| Chhattisgarh | 9,344 | 9,546 | 2% | 16,390 | 14,158 | -14% |
| Madhya Pradesh | 14,031 | 14,642 | 4% | 36,488 | 34,613 | -5% |
| Gujarat | 45,540 | 49,128 | 8% | 73,200 | 80,823 | 10% |
| Dadra and Nagar Haveli and Daman & Diu | 738 | 791 | 7% | 1,233 | 1,316 | 7% |
| Maharashtra | 1,13,769 | 1,24,160 | 9% | 1,72,379 | 1,95,500 | 13% |
| Karnataka | 45,314 | 50,245 | 11% | 82,808 | 87,256 | 5% |
| Goa | 2,609 | 2,676 | 3% | 4,515 | 4,575 | 1% |
| Lakshadweep | 9 | 9 | -4% | 115 | 30 | -74% |
| Kerala | 14,885 | 16,003 | 8% | 32,773 | 33,787 | 3% |
| Tamil Nadu | 46,318 | 47,619 | 3% | 75,856 | 78,117 | 3% |
| Puducherry | 553 | 578 | 5% | 1,509 | 1,452 | -4% |
| Andaman & Nicobar Islands | 228 | 245 | 7% | 596 | 730 | 23% |
| Telangana | 21,292 | 22,685 | 7% | 44,025 | 46,202 | 5% |
| Andhra Pradesh | 14,488 | 15,211 | 5% | 33,301 | 34,301 | 3% |
| Ladakh | 276 | 273 | -1% | 740 | 709 | -4% |
| Other Territory | 208 | 404 | 94% | 935 | 2,582 | 176% |
| Grand Total | 5,16,448 | 5,51,302 | 7% | 9,73,853 | 10,29,131 | 6% |
*Post-Settlement GST is cumulative of the GST revenues of the States/UTs and the SGST portion of the IGST settled to the States/UTs
The year-to-date picture for the full FY 2025-26 is equally reassuring. On a cumulative basis, pre-settlement SGST grew 7% nationally, while post-settlement SGST rose 6%, a clear signal that FY 2025-26 has been a year of broad, sustained, and structurally sound GST growth across India.
Maharashtra's full-year post-settlement SGST at ₹1,95,500 crore is a staggering number, nearly double the second-placed state. With pre-settlement SGST of ₹1,24,160 crore (up 9%) and post-settlement at ₹1,95,500 crore (up 13%), Maharashtra's fiscal dominance is structural, not cyclical.
Haryana's full-year post-settlement growth of 22% is the standout story of FY 2025-26. Consistently punching well above its historical weight, Haryana has emerged as one of the fastest-growing GST contributors in the country, a trend driven by industrial expansion, strong logistics infrastructure, and rapid formalisation of its economy.
Gujarat posted 10% full-year post-settlement growth, reinforcing its position as India's trade and manufacturing powerhouse. With record port volumes at Kandla and Mundra and a deepening MSME ecosystem, Gujarat's GST trajectory reflects structural strength rather than cyclical luck.
Assam delivered a quiet but impressive 14% full-year post-settlement growth - one of the better performances among the North-Eastern states - powered by improving infrastructure and growing economic activity in the region.
States like Jharkhand (-12%), Chhattisgarh (-14%), and Odisha (-9%) show full-year post-settlement declines - largely explained by inter-state IGST settlement adjustments and the inherent volatility of mining and resource-linked revenue streams. This reflects a technical distribution phenomenon more than actual economic contraction in these states.
Conclusion
GST Collection for March 2026 stands at ₹2,00,064 crore - a milestone-crossing 8.8% year-on-year growth - officially released by the GST Network on 1st April 2026. For the full financial year FY 2025-26, gross GST collections crossed ₹22,27,096 crore, up 8.3% from FY 2024-25. Net of refunds, India collected ₹19,34,766 crore - a 7.1% increase.
Disclaimer: "This blog post is for informational purposes only. For specific tax advice related to your business, please consult a qualified Chartered Accountant or GST practitioner."
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