Winning Bizness Desk
Mumbai. GST Collection in September Grows 14.7 pc to Rs 2.04-lakh-cr
The country’s gross Goods and Services Tax (GST) collection has stayed above the Rs 2-lakh-croe mark in September of this year. This is the third month in a row that the GST mop-up has remained above the Rs 2-lakh-crore mark.
The GST revenue has expanded a healthy 14.7 per cent on a Year-on-Year (YoY) basis to Rs 2.04-lakh-crore; this is a clear reflection of the country’s resilient economy and continued strength in tax revenues.
GST revenue collection was at Rs 1.77-lakh-crore in September of last year (2025). Here, it must be pointed out that the pace of growth had picked up marginally from 14.3 per cent in August, though it remained below the 15.4 per cent registered in July.
A significant highlight here is that the revenue collections have now stayed above the Rs 2-lakh-crore mark since July of this year; in July the GST collection stood at Rs 2.11-lakh-crore, while it was Rs 2-lakh-crore in August. In
September (last month), it stood at Rs 2.04-lakh-crore.
Gross GST revenue from imports registered a steep northward climb at 25.9 per cent Year-on-Year to Rs 65,525-crore from the year-ago figure of Rs 52,031-crore. This shows that the September jump was propelled by this steep rise in collections from imports.
Domestic GST revenue moved up 10 per cent to Rs 1.38-lakh-crore from Rs 1.25-lakh-crore.
The net GST revenue expanded at an even more rapid pace as refunds slid during the month. The total net GST revenue increased 18.1 per cent to Rs 1.77-lakh-crore from Rs 1.50-lakh-crore in September last year.
The net domestic GST revenue increased 13.5 per cent to Rs 1.24-lakh-crore while net customs GST revenue zoomed 30.8 per cent to Rs 52,028-crore.
During the April-to-September six-month period of this fiscal (FY 27), gross GST collections stood at Rs 12.46-lakh-crore, up 11.6 per cent from the Rs 11.17-lakh-crore in the corresponding period of the last financial year.
Domestic gross revenues moved northward by 6.1 per cent during the first six-months of FY 27 (April-to-September period) to Rs 8.74-lakh-crore while import revenues registered a healthy jump of 27.1 per cent to Rs 3.72-lakh-crore.
Net GST revenue also climbed up during the first six-months of this fiscal; it increased 10.4 per cent to Rs 10.66-lakh-crore.
An important point to note here is that refunds during this period were 18.8 per cent higher at Rs 1.80-lakh-crore.
Assam GST Revenue Zooms 88 pc while Tamil Nadu’s Collection Slides 5 pc
The country registered a robust GST revenue collection in September of this year at Rs 2.04-lakh-crore, a healthy increase of 14.7 per cent which propelled the revenue collection above the Rs 2-lakh-crore mark for the third consecutive month.
However, state-wise numbers reveal a wide divergence in revenue growth.
The three north-eastern states of Assam, Manipur and Arunachal Pradesh registered steep jumps in their collections while the two northern states of Jammu and Kashmir and Uttarakhand clocked declines. These two states were joined by the southern coastal state of Tamil Nadu which saw its domestic GST collection slide by five per cent.
The gross GST revenue collected in September was Rs 2,03,521-crore as against the 1,77,365-crore in the same month a year-ago.
Assam’s growth was massive—the state clocked the steepest growth among bigger states with domestic GST collections increasing 88 per cent to Rs 2,415-crore in September of this year as against the Rs 1,287-crore of the year-ago period.
Manipur registered a 145 per cent vault, though it must be pointed out here that the state’s collection base was much smaller. The GST revenue zoomed to Rs 92-crore from Rs 37-crore. Another north-eastern state, Arunachal
Pradesh, clocked a healthy 46 per cent jump to Rs 136-crore.
With respect to other major states, Maharashtra continued to clock the highest domestic GST collection at Rs 29,986-crore, up 15 per cent YoY from Rs 25,973-crore.
An encouraging growth of 18 per cent was registered in its domestic GST revenue to Rs 8,882-crore from Rs 7,516-crore by the northern state of Uttar Pradesh.
Telangana and Delhi also clocked growths in double-digits. While Telangana’s collection grew 18 per cent to Rs 5,327-crore, Delhi’s GST revenue climbed northward 12 per cent to Rs 6,354-crore.
Among states whose collections registered a slide, Jammu and Kashmir clocked a sharp 29 per cent slide to Rs 487-crore while another northern state, Uttarakhand’s collection slid 23 per cent to Rs 1,277-crore.
Tamil Nadu witnessed a five per cent decline to Rs 10,188-crore. The state’s neighbour Pondicherry registered a 31 per cent fall while Himachal Pradesh’s GST collection also declined by 21 per cent.
Here, an important point to note is that the state-wise numbers do not include GST on import of goods and, therefore, represent only domestic GST collections.
Real Estate Ind Body Says Govt Likely to Revise Affordable Housing Policy
The government is preparing a new affordable housing policy and it is likely to bring it in within the nest six-months, the real estate industry body, Confederation of Real Estate Developers’ Associations of India (CREDAI) said.
The real estate industry body was in touch with the government’s Housing Department, Finance Department and NITI Aayog.
The government is preparing the new affordable housing policy, which, hopefully should be unveiled in the next six-months, CREDAI’s President Mr Shekhar Patel said at the CREDAI NATCON 2026 held in Kolkata.
The real estate industry has been calling strongly for a fundamental change in the way affordable housing is defined, with CREDAI recommending that the existing Rs 45-lakh price cap be removed and replaced with an area-based criterion.
“We want that the cap of Rs 45-lakh be removed. There should be only area limit of 60 sq metres for metros and 90 sq metres for non-metros to be called as affordable homes,” Mr Patel said.
Under CREDAI’s proposal, homes measuring up to 60 sq metres in metropolitan cities and 90 sq metres in non-metropolitan cities would qualify as affordable housing, irrespective of their sale price.
The organization contended that the existing price cap had become increasingly out of sync with housing development costs, particularly in large urban markets where land and construction costs have skyrocketed steeply.
The segment’s share of overall residential sales has slid to around 14 per cent, CREDAI said, on the back of developers facing climbing land, financing, construction and regulatory costs.
The industry body also sought measures to reduce the overall cost burden on affordable housing projects, including taxation and regulatory costs, to make such projects more viable for developers.
FM Says Fiscal Prudence, Reforms and Investment in Infrastructure Strengthened Economy
Union Finance Minister Ms Nirmala Sitharaman said that the country’s economic strength and resilience have been built over the past decade through a combination of fiscal prudence, investment in infrastructure, consistent reforms, banking reforms and improved delivery mechanisms.
Ms Sitharaman was addressing the fifth Kautilya Economic Conclave in New Delhi where she said that the central government has advanced the national frameworks through such initiatives as the Goods and Services Tax (GST), insolvency and bankruptcy code and the four labour codes.
The country had navigated the shocks of the past four-years with its fundamentals intact, the Union Finance Minister said, citing the 7.8 per cent GDP growth in the first-quarter of this fiscal (Q1 FY 27).
Pointing out that the national highway network had expanded by about 61 per cent, she said that the number of operational airports had also more than doubled since 2014 when Mr Narendra Modi won the Lok Sabha election and became Prime Minister of the country.
More than 52-crore collateral-free loans have been sanctioned under the PM MUDRA Yojana, she said.
