May GST mop-up hits ₹1.94L cr, up 3.2% YoY; goods supply jumps 26.9%
Broad-based growth across goods (+26.9%) and services (+22.2%) taxable supplies points to resilient domestic consumption. IGST on imports rose 20% while refunds climbed 10.9% YTD, signalling sustained demand across consumer electronics, autos, hospitality and retail categories.
What happened
GST Council · May gross GST collections rose 3.2% YoY to ₹1.94 lakh crore, with goods taxable supply up 26.9% and services up 22.2%. Broad-based growth across
Key facts
- ₹1.94 lakh crore
- 3.2% YoY
- 26.9% goods taxable supply growth
- 22.2% services taxable supply growth
- IGST imports +20%
- refunds +10.9% YTD
Why this matters
Robust domestic demand signals reduce execution risk on consumer-facing M&A; consider accelerating diligence on retail and hospitality targets while category tailwinds remain intact.