GST Collections Rise 3.2% to ₹1.94 Lakh Crore in May 2026

New Delhi, June 1, 2026:

India’s Goods and Services Tax (GST) collections for May 2026 stood at ₹1.94 lakh crore, registering a 3.2% increase compared to the same month last year. This marks continued resilience in economic activity despite global uncertainties.

According to official data, import-related GST revenue saw a strong 19% jump, while domestic collections remained steady. After accounting for refunds, net GST revenue reached approximately ₹1.67 lakh crore.

Key Highlights from May 2026:

• Electric Vehicles Boom: Registrations of electric two-wheelers surged 58% year-on-year to 1.64 lakh units in May, driven by better infrastructure, more affordable models, and consumer shift away from traditional fuels.

• Stock Market Watch: Markets opened cautiously today with mixed global cues. Brokerages expect June to be a “stock-pickers’ market” with selective buying in certain sectors.

• Upcoming Events: RBI’s Monetary Policy Committee meeting is scheduled for June 3-5, which will be closely watched for interest rate decisions. India-US trade talks are also resuming today.

• Other Developments: Commercial LPG cylinder prices were hiked by ₹42 in Delhi and other cities effective June 1. Jet fuel prices for international flights were reduced, providing relief to airlines.

The government highlighted robust taxable supply growth and economic resilience despite challenges like geopolitical tensions in West Asia.

This positive GST and EV data reinforces confidence in India’s consumption and manufacturing recovery heading into the new financial quarter.