February 2026 GST collections reached ₹1,83,400 crore with 10.5% YoY growth. Pre-year-end compliance behavior, e-invoice expansion, and strong domestic consumption drove continued momentum. YTD collections: ₹20.90 lakh crore (11 months).
| Month | Total | CGST | SGST | IGST | Cess | YoY |
|---|---|---|---|---|---|---|
| Feb 2026 | ₹1834.0L Cr | ₹33,200 | ₹42,100 | ₹94,600 | ₹13,500 | +10.5% |
| Jan 2026 | ₹1923.0L Cr | ₹34,900 | ₹44,200 | ₹99,300 | ₹13,900 | +11.3% |
| Dec 2025 | ₹1862.0L Cr | ₹33,800 | ₹42,800 | ₹96,200 | ₹13,400 | +8.7% |
| Nov 2025 | ₹1812.0L Cr | ₹32,800 | ₹41,600 | ₹93,800 | ₹13,000 | +9.8% |
| Oct 2025 | ₹1845.0L Cr | ₹33,400 | ₹42,300 | ₹95,600 | ₹13,200 | +10.1% |
| Sep 2025 | ₹1786.0L Cr | ₹32,300 | ₹40,800 | ₹92,500 | ₹13,000 | +9.5% |
Banking sector settlements, Q3 corporate filings
IT services quarterly billing, startup ecosystem
Diamond exports (Valentine season), pharma, chemicals
Automobile manufacturing, electronics assembly
Consumer goods, sugar industry, real estate
Auto sector, IT/ITES in Gurgaon
Pharma sector, IT services exports
Services sector, e-commerce, government procurement
| Metric | FY 2025-26 (11M) | FY 2024-25 (11M) | Growth |
|---|---|---|---|
| YTD (Apr-Feb) Collection | ₹20.90 L Cr | ₹18.92 L Cr | +10.5% |
| Average Monthly | ₹1.90 L Cr | ₹1.72 L Cr | +10.5% |
| Highest Month | ₹2.03 L Cr (Apr'25) | ₹2.10 L Cr (Apr'24) | — |
| Feb vs Feb LY | ₹1.83 L Cr | ₹1.66 L Cr | +10.5% |
| IGST (Imports) | ₹5.29 L Cr (YTD) | ₹4.89 L Cr (YTD) | +8.2% |
| Domestic Component | ₹8.60 L Cr (YTD) | ₹7.73 L Cr (YTD) | +11.3% |
Companies begin reconciling ITC, clearing disputed liabilities, and voluntary payments ahead of March 31
₹5 Cr threshold mandate from August 2023 fully embedding — nearly universal B2B reporting now
Gifting, jewellery, and diamond sector activity spikes — especially Gujarat diamond exports
Union Budget 2026 announcement creates market activity, pre-buying in affected sectors
Automated ITC matching reduced fake claims by an estimated ₹15,000-20,000 Cr annually
Registration and possession deliveries before FY close drive stamp duty + GST on under-construction properties
India collected ₹1,83,400 crore (₹1.83 lakh crore) in gross GST during February 2026, representing a 10.5% year-on-year growth over February 2025 (₹1.66 lakh crore). The breakdown: CGST ₹33,200 Cr, SGST ₹42,100 Cr, IGST ₹94,600 Cr (including ₹48,200 Cr on imports), and Cess ₹13,500 Cr. This was the 11th consecutive month above the ₹1.5 lakh crore mark.
February has fewer days (28 vs 31) which means fewer business transactions. January collection (₹1.92L Cr) reflects December activity which includes strong Q3 consumption. February reflects January activity — typically a quieter month after the festive/holiday season. However, Feb 2026 maintained strong 10.5% growth due to pre-year-end compliance behavior and continued e-invoicing benefits.
April to February FY 2025-26: ₹20.90 lakh crore collected in 11 months, averaging ₹1.90 lakh crore per month. This is 10.5% higher than the same period last year (₹18.92L Cr). At this pace, the full FY 2025-26 is projected to close at ₹22.8-23.1 lakh crore. The domestic component (CGST+SGST) grew faster at 11.3%, indicating strong internal economic activity.
Gujarat accounts for 85-90% of the world's polished diamond processing. February sees a spike due to Valentine's Day demand globally — orders placed in Dec-Jan get processed and shipped in January, with GST collections reflecting in February. Surat alone contributes ₹3,000-4,000 Cr in monthly GST. Additionally, chemical manufacturing in Vadodara/Ankleshwar and ceramic exports from Morbi contribute to Gujarat's consistent 8-9% national share.
The Union Budget announced on 1 February 2026 typically creates short-term market activity: (1) Pre-buying of goods where duty increases are anticipated; (2) Stock market activity generating capital gains-related services; (3) Government spending announcements lead to infrastructure procurement activity; (4) Tax changes announced in Budget don't affect GST rates (those need Council approval), but broader economic sentiment influences consumption patterns.
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