Why in the News
Gross Goods and Services Tax collections rose 8.1% year on year to over ₹1.83 lakh crore in February 2026, indicating steady consumption and import activity.
Key Figures
- Gross GST: ₹1.83 lakh crore
- Net GST: ₹1.61 lakh crore up 7.9%
- Gross domestic revenue: ₹1.36 lakh crore up 5.3%
- Import revenue: ₹47,837 crore up 17.2%
- Refunds: ₹22,595 crore up 10.2%
- Cumulative GST collection so far this fiscal: ₹20.27 lakh crore up 8.3%.
Policy Context
- GST slabs merged into two major rates: 5% and 18%
- 40% slab retained for ultra luxury goods and tobacco
- Around 375 items saw rate cuts from September 2025
- Initial dip in November after tax cuts followed by recovery in December, January and February.
State Level Trends
Negative growth observed in:
- Tamil Nadu
- Madhya Pradesh
- Rajasthan
Below national average growth in:
- West Bengal
- Haryana
- Uttar Pradesh
- Maharashtra
Significance
- Reflects resilience of consumption demand
- Strong import growth suggests trade momentum
- Stable revenue trend despite rate rationalisation
- Indicates structural maturity of GST ecosystem
[2017] What is/are the most likely advantages of implementing ‘Goods and Services Tax (GST)’?
Select the correct answer using the code given below: (a) 1 only (b) 2 and 3 only (c) 1 and 3 only (d) 1, 2 and 3 |
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