92% of India's CEOs plan to hire more. 52% also plan to cut roles.
The same 125 CEOs who plan to hire also plan to cut. 86% are reassessing entry-level skills, against 76% globally.
CapitalVia Research Desk ·
Data story · 3 Nov 2026
GST collections · October 2026
GST collections jumped 22.9% in October. Half of the jump came from imports.
Gross GST hit ₹2.31 lakh crore, up from ₹1.88 lakh crore a year earlier. Tax on imported goods rose 42%. Tax on what India sold at home rose 16%.
Gross GST collected in October 2026
₹2.31lakh crore
That is ₹2,31,290 crore, against ₹1,88,125 crore in October 2025 — ₹43,165 crore more.
Domestic GST +15.8%
Import GST +42.2%
Net of refunds +25.6%
Where the extra ₹43,165 crore came from
Rise in gross GST, October 2026 vs October 2025, split by source
₹21,716 cr
₹21,450 cr
Domestic sales · 50%
Imports (IGST) · 50%
Imports were only 27% of GST a year ago — yet they supplied half of October's growth.
Growth over October 2025
Year-on-year change in collections, October 2026
Domestic GST₹1,59,044 cr
+15.8%
Import GST₹72,246 cr
+42.2%
All gross GST₹2,31,290 cr
+22.9%
Net GST, after refunds₹2,03,356 cr
+25.6%
Imports' share of gross GST
IGST on imported goods as a share of all gross GST collected in the month
27.0%
October 2025
→
31.2%
October 2026
It is not a one-month blip
April–October growth over the same seven months last year
Domestic GST₹10.33 lakh cr
+7.4%
Import GST₹4.44 lakh cr
+29.3%
All gross GST₹14.78 lakh cr
+13.2%
58%
of this financial year's GST growth so far has come from imports, not from domestic sales.
Of the ₹1,72,356 crore rise in gross GST between April–October 2025 and April–October 2026, ₹1,00,735 crore was IGST on imports.
Why this matters to you
Salaried
The "22.9%" headline is not a measure of how much more India is buying. Domestic GST grew 7.4% since April — read the consumption story at that pace, not the headline one.
Founders
If you import inputs — electronics, chemicals, machinery — IGST paid at the port rose 42% in a year. Refunds grew only 6.5%. Plan working capital for cash locked in input credit.
Business leaders
Domestic GST growth varies sharply by state: Assam +47%, Uttar Pradesh +24%, Maharashtra +13%, Tamil Nadu +3%. Check the states you sell in before extrapolating the national number.
Read with care. October 2025 was the first month of collections after the September 2025 GST rate cuts, so every year-on-year rate here rides on a soft base. October's collections largely reflect September transactions. GSTN marks all figures provisional.
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