India's gross Goods and Services Tax (GST) collections moderated to Rs 1.94 lakh crore in May 2026 from a record Rs 2.42 lakh crore in April, though revenues remained 3.2% higher than the Rs 1.88 lakh crore collected in the same month last year, according to official data released on Sunday. Net GST revenue for May rose 3.3% year-on-year to Rs 1.67 lakh crore, compared with Rs 1.62 lakh crore in May 2025. Total refunds increased 2.6% to Rs 27,281 crore during the month, while cumulative refunds for the financial year so far climbed 10.9% to Rs 59,063 crore.