GST Collection Growth Cools To 0.7% As November Mop-Up Hits ₹1.70 Lakh Crore

India’s goods and services tax (GST) collection in November 2025 rose marginally to about ₹1.70 lakh crore, registering year-on-year growth of just 0.7%, the slowest pace in about a year. The headline number signals that while consumption and compliance remain broadly intact, the recent round of rate rationalisation has clearly started weighing on revenue growth.​

Provisional data shows gross GST revenue at around ₹1,70,276 crore in November, only slightly higher than the same month last year. Net GST collections after refunds are estimated at roughly ₹1.52 lakh crore, implying a modest rise of about 1.3%. This is a visible step-down from October 2025, when collections were close to ₹1.9–1.95 lakh crore on the back of festive spending.​

The weak headline growth is largely explained by GST 2.0, under which rates on hundreds of mass-consumption items were cut to ease inflation and spur demand. Lower rates naturally drag down revenue growth in the short term even if the underlying volume of consumption is stable or improving. Domestic GST (from internal trade) has softened more than import-linked GST, highlighting that domestic taxable value growth is under pressure while imports are holding up better.​

Despite the November slowdown, the broader picture for FY 2025–26 remains more comfortable. Cumulative gross GST collections for April–November are estimated at about ₹14.75 lakh crore, reflecting healthy growth of nearly 9% compared with the same period a year ago. This suggests that the tax base created by improved compliance, e-invoicing and data analytics is still supporting revenues, even as the government trades off near-term growth in collections for lower rates and consumer relief.​

For policymakers, the November numbers will be a key input ahead of the next GST Council meeting, as they assess whether further tweaks are needed on rates or enforcement. For businesses, the data underlines a shift to a lower-tax but more compliance-driven GST regime, where stable demand and accurate reporting will matter more than headline rate changes.