India · Public finances
India — Tax Collections
Last update: 20 Oct 2026
India's central government collected ₹40.24 lakh crore in gross taxes in FY 2025-26 (provisional), up 6.0% on a year earlier, equal to 11.6% of GDP. Personal income tax (with STT) rose 0.5% to ₹12.41 lakh crore while corporation tax rose 11.4% to ₹10.99 lakh crore.
In Apr–Aug 2026, gross central taxes were ₹14.32 lakh crore, up 6.5% on the same months a year earlier, 32.5% of the FY 2026-27 Budget Estimate (these months usually bring in 33.1% of the year). Gross GST collections, Centre and States together, were ₹22.27 lakh crore in FY 2025-26, up 8.3% on a year earlier (excluding compensation cess). The Centre's tax-to-GDP ratio and buoyancy sit beside the budget balance and the current account on the budget and current-account desk.
- Centre, monthly accountsAug 2026CGA · provisional
- GST collectionsApr–Sep 2026GSTN · provisional
- States, accountsFY 2023-24RBI State Finances
- Database updated20 Oct 2026Published 20 Oct 2026
- Next release30 Nov 2026Union government monthly accounts (CGA) · expected
₹40.24 lakh cr
A year earlier: ₹37.96 lakh cr (up 6.0%)
FY 2025-26 · CGA monthly accounts
Central taxes as a share of GDP
ProvisionalIncome tax, including STT
ProvisionalGross GST, Centre and States
ProvisionalFY 2026-27 so far
ProvisionalOverview
Gross central tax revenue by tax
Gross central collections before the States' share. Fiscal years run April to March.
₹ crore / lakh crore
- Corporation tax
- Income tax (incl. STT)
- GST (Centre)
- Customs
- Union excise
- Service tax and other
In FY 2025-26, income tax with STT made up 30.8% of gross central taxes, corporation tax 27.3%, the Centre's GST 26.5%, union excise 8.5%, customs 6.6%. Direct taxes rose from 50.9% of the total in FY 2015-16 to 58.1%. GST replaced service tax and central excise on most goods from July 2017.
Open a category below to compare its tax heads. Monthly figures are unadjusted; June, September, December and March are advance-tax months.
1 · Collections by tax
Collections and growth by tax head
Compare tax collections and growth
Select one or more tax heads to compare their collections, or their percentage change on the same period a year earlier, over the same fiscal years or months. Aggregates (gross central taxes, direct taxes, indirect taxes) and the heads inside them are drawn as separate lines and are never added together.
Includes provisional data
Closed fiscal years only. The running year is shown in Monthly and in the Budget tracker.
₹ crore / lakh crore
- Corporation tax
- Income tax
- GST (Centre)
2 · GST detail
GST collections by component
GST collections: explore the breakdown
Gross GST before settlement between the Centre and the States, split into its components (CGST, SGST, IGST and cess, or domestic and import supplies). Choose a published period, then open a component to see its history over time.
Includes provisional data
Apr–Sep 2026: gross GST ₹12.46 lakh cr, excluding compensation cess. Select a bar label to open its history. Domestic supplies + imports reconcile to gross GST (subject to source rounding).
₹ crore / lakh crore
GST by product or sector, such as cars
The published sources in this snapshot do not contain GST collections by product or sector. Domestic supplies and imports are available; cars, electronics and other product categories cannot be split from this total. Vehicle tax in the States' accounts is a separate tax, not GST on cars.
3 · Economic context
Taxes as a share of GDP
Tax-to-GDP ratio
Tax collections divided by nominal GDP for the same fiscal year, for total revenue or for individual tax heads. MoSPI's two GDP bases (2011-12 and 2022-23) are drawn as separate lines where they overlap and are never spliced into one series.
per cent of GDP
- Centre, gross (2011-12 GDP base)
- Centre, gross (2022-23 GDP base)
- Centre and States (2011-12 base)
- Centre and States (2022-23 base)
In FY 2022-23, the one year both bases cover, the same collections are 11.4% of GDP on the 2011-12 base and 11.7% on the 2022-23 base, because the new base puts GDP about 2.9% lower. Compare years along one line, not across the step.
Year-to-date tracker
FY 2026-27 collections to date: Apr–Aug 2026
Advance tax arrives in June, September, December and March, so a straight-line share of the Budget target misleads. "Usual by now" is the median share of a full year's collections that came in during the same 5 months over 8 earlier years (FY 17-18, FY 18-19, FY 19-20, FY 21-22, FY 22-23, FY 23-24, FY 24-25, FY 25-26). FY 2020-21 is left out: the lockdown pushed collections later.
| Tax | Apr–Aug 2026 | Same months a year earlier | Change | Budget target FY 2026-27 | Collected so far | Usual by now | Rest of year must grow |
|---|---|---|---|---|---|---|---|
| Gross tax revenue | ₹14.32 lakh cr | ₹13.44 lakh cr | +6.5% | ₹44.04 lakh cr | 32.5% | 33.1% (8 yrs) | +10.9% |
| Corporation tax | ₹2.65 lakh cr | ₹2.29 lakh cr | +15.4% | ₹12.31 lakh cr | 21.5% | 21.8% (8 yrs) | +11.1% |
| Income tax (incl. STT) | ₹5.29 lakh cr | ₹4.63 lakh cr | +14.2% | ₹14.66 lakh cr | 36.1% | 33.7% (8 yrs) | +20.5% |
| Securities transaction tax | ₹33,836 cr | ₹22,379 cr | +51.2% | ₹73,700 cr | 45.9% | 38.9% (3 yrs) | +13.4% |
| GST (Centre) | ₹4.37 lakh cr | ₹4.53 lakh cr | −3.6% | ₹10.19 lakh cr | 42.8% | 40.9% (7 yrs) | −4.9% |
| Customs | ₹1.07 lakh cr | ₹83,062 cr | +28.2% | ₹2.71 lakh cr | 39.3% | 39.3% (8 yrs) | −9.2% |
| Union excise | ₹86,687 cr | ₹1.12 lakh cr | −22.6% | ₹3.89 lakh cr | 22.3% | 34.9% (8 yrs) | +31.4% |
| States' share (devolution) | ₹5.90 lakh cr | ₹5.30 lakh cr | +11.4% | ₹15.26 lakh cr | 38.7% | 35.3% (8 yrs) | +8.5% |
| Net tax to the Centre | ₹8.38 lakh cr | ₹8.10 lakh cr | +3.4% | ₹28.67 lakh cr | 29.2% | 32.1% (8 yrs) | +11.9% |
"Rest of year must grow" is the growth on the remaining months of last year needed to reach the Budget target exactly; it is red when it is more than two percentage points above growth so far. Income tax is compared with its Budget line, which includes STT; its usual pace uses income tax alone, because STT had no monthly figure before April 2023. Monthly accounts are provisional.
Market taxes
STT and capital gains tax
STT taxes securities transactions. Capital gains tax applies to gains realised on disposals. They have different bases and must be analysed separately.
Securities transaction tax: cash receipts
Annual CGA receipts; Receipt Budget actuals before FY 2023-24. Already included in the income-tax aggregate.
Includes provisional data
₹ crore / lakh crore
- STT cash receipts
Monthly STT is available from April 2023 in the tax explorer. Aggregate STT cannot price a futures-only or options-only cut: the eligible receipts or taxable turnover by instrument are required.
Long-term capital gains: tax reported in e-returns
Ministry of Finance, Rajya Sabha answer 892 (30 July 2024). Assessment years 2019-20 to 2023-24; underlying fiscal years 2018-19 to 2022-23.
₹ crore / lakh crore
- LTCG tax from e-returns
This is tax on LTCG from e-returns, not a separate CGA cash-receipts head. The parliamentary table does not establish an equity-only or section-112A-only split. Do not add these amounts to income or corporation tax, apply today's equity rate to the total, or carry the last observation into later years. A blank period means unavailable.
Missing for current policy costing: recent LTCG and STCG liabilities by asset, tax regime, taxpayer group, exemptions and losses; their reconciliation to refunds and cash receipts. Declared gains are income, not tax revenue.
Latest rates recorded in this snapshot
These are dated headline rates before surcharge and cess, not effective collection rates. Listed-equity capital-gains rates do not describe every asset.
| Measure | Rate | Effective from | Source |
|---|---|---|---|
| Long-term capital gains tax on listed equity | 12.5% | 23 Jul 2024 | Union Budget 2024-25 speech (paras 141-143) |
| Short-term capital gains tax on listed equity | 20% | 23 Jul 2024 | Union Budget 2024-25 speech (para 142) |
| Securities transaction tax on sale of futures | 0.05% | 1 Apr 2026 | Union Budget 2026-27 speech (para 140) |
| Securities transaction tax on sale of options (premium) | 0.15% | 1 Apr 2026 | Union Budget 2026-27 speech (para 140) |
Futures STT uses traded value; options-sale STT uses premium. The latest options row also documents exercise taxation. An increase in transactions or realised gains after a cut is an assumption to test, not a guaranteed offset to lost revenue.
Consumption and the public budget
Consumption, tax receipts and public spending
- Tax relief can leave households or firms with more money; incidence determines who receives it.
- Consumption rises only to the extent recipients spend the relief. Saving, debt repayment and imports change the domestic effect.
- Tax receipts depend on taxable spending, effective rates, compliance and refunds. PFCE includes exempt and non-market consumption.
- Public spending or borrowing must absorb any remaining revenue loss. Cutting expenditure can offset the private-demand gain.
Consumption growth beside tax growth
MoSPI release of 5 June 2026, 2022-23 base, FY 2022-23 to 2025-26. Changes on the prior fiscal year; aggregate association does not identify the effect of a tax cut.
Includes provisional data
per cent change
- Private consumption
- Government consumption
- Centre GST
- Income tax excluding STT
| Fiscal year | Private consumption | Government consumption | Real private growth | Real government growth |
|---|---|---|---|---|
| FY 2022-23 | 14,922,828 | 2,890,909 | — | — |
| FY 2023-24 | 16,376,825 | 3,073,888 | 5.8% | 0.6% |
| FY 2024-25 | 17,970,609 | 3,395,336 | 5.8% | 6.5% |
| FY 2025-26 | 19,650,901 | 3,691,021 | 7.7% | 5.5% |
Levels are current-price ₹ crore. FY 2024-25 is first revised; FY 2025-26 is provisional. Real growth uses constant-price PFCE/GFCE, not CPI-deflated tax receipts. The June release matches the GDP vintage in this snapshot; newer vintages must be reconciled before replacement.
PFCE is private final consumption expenditure. GFCE is government final consumption expenditure across government levels; it excludes items such as transfers and capital formation. Neither is the Union Budget's total expenditure. GST-to-PFCE is not an effective GST rate.
Union expenditure and its financing
One Budget vintage and one fiscal period at a time. Net central taxes exclude devolution; national GST and States' own taxes are not added.
| Item | ₹ crore | Treatment |
|---|---|---|
| Net tax revenue retained by the Centre | 2,500,039 | Non-debt funding |
| Non-tax revenue | 536,580 | Non-debt funding |
| Recovery of loans | 24,617 | Non-debt funding |
| Other non-debt capital receipts | 17,202 | Non-debt funding |
| Union fiscal deficit | 1,574,431 | Financing requirement, not tax revenue |
| Total Union expenditure | 4,652,867 | Total use of funds |
| Union revenue expenditure | 3,600,914 | Part of total expenditure |
| Union capital expenditure | 1,051,953 | Part of total expenditure |
| Union interest payments | 1,115,575 | Part of revenue expenditure |
Net taxes + non-tax revenue + loan recoveries + other non-debt receipts + fiscal deficit = total expenditure, subject to rounding. Any loss of net revenue needs additional financing or lower spending if other receipts are unchanged.
This Budget edition supplies FY 2024-25 actuals, FY 2025-26 BE/RE and FY 2026-27 BE. RE and BE are not realised spending. The Union's share of a tax cut must be established from the affected taxes' devolution and cess rules; do not apply a blanket State-sharing percentage.
Policy workbench · assumptions, not a forecast
Revenue sensitivity to a hypothetical tax cut
Apply a hypothetical cut to a published closed-year baseline. This is an annual historical sensitivity in rupees, not a prediction for the current year. Baseline year is selected here independently of the chart filters.
Revenue sensitivity calculator
Published cash receipts anchor the calculation. All policy and behavioural inputs below are assumptions.
Includes provisional data
The affected share refers to revenue, not the share of taxpayers. A 10% proportional cut is not a 10-percentage-point rate cut: 20% to 18% is a 10% reduction for an unchanged, uniformly taxed base. Slabs, rebates, exemptions, surcharge and cess need a separate costing model.
Observed baseline: ₹1,183,397.00 crore · FY 2025-26 · provisional · Controller General of Accounts, monthly accounts.
- Revenue affected before the cut
- ₹1,183,397.00 crore
- Static revenue loss, unchanged base
- ₹118,339.70 crore
- Whole-head receipts, unchanged base
- ₹1,065,057.30 crore
- Whole-head receipts with assumed base response
- ₹1,065,057.30 crore
- Revenue loss with assumed base response
- ₹118,339.70 crore
- Affected-base growth needed to break even
- 11.11%
A negative loss means a gain under the assumed base response. Break-even is arithmetic, not evidence that growth of that size will occur. Normal economic growth is held unchanged between the two scenarios.
| Affected-base change | Whole-head receipts | Revenue loss |
|---|---|---|
| -10% | ₹958,551.57 crore | ₹224,845.43 crore |
| 0% | ₹1,065,057.30 crore | ₹118,339.70 crore |
| 10% | ₹1,171,563.03 crore | ₹11,833.97 crore |
| 20% | ₹1,278,068.76 crore | ₹-94,671.76 crore |
Optional: trace income-tax relief into consumption
Enter all four assumptions to illustrate the first round. This starts from the static loss, independently of the taxable-base response above. Inputs have no estimated default.
Consumption impact is unestimated. Enter each assumption between 0% and 100% to calculate it.
The tax yield is a blended cash yield after exemptions, credits and refunds, not a statutory GST slab or GST/PFCE ratio. Import-tax feedback and non-household relief channels are omitted. Do not add this recapture to a base-response estimate that already includes the same effects.
Formula and evidence needed for policy costing
R = baseline revenue; a = affected revenue share; c = proportional burden cut; b = affected-base response, all percentages expressed as fractions. Static loss = R × a × c. Scenario receipts = R × (1 − a) + R × a × (1 − c) × (1 + b). Break-even base growth = c / (1 − c), where affected revenue is positive and c < 1.
Consumption channel: static loss × household share × spending share × domestic share × indirect-tax yield. The combined-government gap subtracts that channel from the static loss only. No central/state allocation is inferred.
Suitable for policy screening; insufficient for an official revenue forecast. A defensible costing requires current taxpayer or transaction microdata, eligible tax bases and rate schedules, exemptions, losses, refunds, compliance and timing, distributional incidence, supported elasticities and a spending/borrowing response. Capital-gains e-return totals and aggregate STT cannot identify an equity-only or futures-only policy base.
Copy for AI includes the assumptions, formulas, results and exact baseline observation. CSV contains the published baseline only. Currency selection above does not change these rupee scenarios.
GDP and inflation: deeper analysis
Decomposition
Drivers of the change in the tax-to-GDP ratio
Gross central taxes rose 0.91 points of GDP between FY 2015-16 and FY 2024-25, from 10.57% to 11.48% (a 8.6% rise in the ratio itself; 0.10 points a year on average).
A point of GDP is one per cent of the economy's output for the year: about ₹3.31 lakh cr in FY 2024-25. Both years use the 2011-12 GDP base.
Pushed the ratio up
- GST (Centre) (from July 2017) +3.11 pts 0.00% → 3.11% · +0.35 pts a year
- Income tax (incl. STT) +1.65 pts 2.09% → 3.74% · +0.18 pts a year
Pulled it down
- Service tax and other indirect taxes −1.53 pts 1.58% → 0.04% · −0.17 pts a year
- Union excise −1.18 pts 2.09% → 0.91% · −0.13 pts a year
- Customs −0.82 pts 1.53% → 0.71% · −0.09 pts a year
- Corporation tax −0.31 pts 3.29% → 2.98% · −0.03 pts a year
Net change: +0.91 pts of GDP, equal to the change in the total.
Calculated from the published shares of GDP. GST replaced central excise on most goods and the service tax in July 2017, so across that date the excise and "other" terms fall while GST rises; read them together. A ratio can rise because collections grew faster or because GDP grew slower.
Growth and inflation
Tax collections, economic growth and inflation
Taxes are charged on rupee incomes and prices, so collections follow nominal GDP: real growth plus inflation. When inflation falls, revenue slows even if the economy grows as fast in real terms. Buoyancy compares the two: tax growth divided by nominal GDP growth. For example, if taxes grow 12% in a year when nominal GDP grows 10%, buoyancy is 1.2.
Nominal GDP growth by component, with tax revenue growth
Bars: real GDP growth and GDP deflator inflation; together they make nominal GDP growth (exactly, (1 + real) × (1 + prices) − 1, so the stack is a little shorter). Line: growth of the Centre's gross tax revenue. The 2011-12 base to FY 2022-23, the 2022-23 base after.
Includes provisional data
per cent
Zero
- Real GDP growth
- Prices (GDP deflator)
- Gross central tax growth
In FY 2025-26 nominal GDP grew 8.9%: 7.7% real growth and 1.1% from prices, against a median price contribution of 3.5% in the earlier years shown. Gross central taxes grew 6.0%, a buoyancy of 0.68. Prices, activity and tax rules can all affect revenue. Neither this chart nor the policy benchmark gaps isolate a tax cut's causal effect.
Buoyancy by tax
Above 1 (green): the tax grew faster than nominal GDP. Below 1: slower; below 0: it fell while the economy grew. Policy changes show up as outliers, so the median of the years shown is the steadier guide. FY 2020-21 is blank: nominal GDP fell 1.2% and a ratio of two small numbers means nothing. GST's first full-year comparison is FY 2019-20.
| Tax | 16-17 | 17-18 | 18-19 | 19-20 | 20-21 | 21-22 | 22-23 | 23-24 | 24-25 | 25-26 | Median |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross tax revenue | 1.52 | 1.07 | 0.79 | −0.53 | — | 1.78 | 0.91 | 1.23 | 0.98 | 0.68 | 0.98 |
| Direct taxes | 1.07 | 1.70 | 1.39 | −1.20 | — | 2.60 | 1.27 | 1.63 | 1.40 | 0.60 | 1.39 |
| Corporation tax | 0.59 | 1.61 | 1.53 | −2.52 | — | 2.95 | 1.15 | 0.94 | 0.85 | 1.28 | 1.15 |
| Income tax (incl. STT) | 1.83 | 1.83 | 1.19 | 0.65 | — | 2.27 | 1.41 | 2.31 | 1.87 | 0.05 | 1.83 |
| Indirect taxes | 1.98 | 0.48 | 0.16 | 0.28 | — | 1.07 | 0.52 | 0.75 | 0.44 | 0.78 | 0.52 |
| GST (Centre) | — | — | — | 0.46 | — | 1.44 | 1.55 | 1.16 | 0.75 | 0.42 | 0.95 |
| Union excise | 2.76 | −2.90 | −1.01 | 0.57 | — | 0.02 | −1.32 | −0.39 | −0.17 | 1.56 | −0.17 |
| Customs | 0.61 | −3.87 | −0.82 | −1.14 | — | 2.56 | 0.49 | 0.84 | 0.00 | 1.50 | 0.49 |
| States' own taxes | 0.66 | 2.16 | 0.70 | 0.12 | — | 1.36 | 1.41 | 0.97 | 1.49 | — | 1.17 |
Consumer prices around the September 2025 GST cut
CPI inflation, 12-month change, all India. The 2012-base series ends in December 2025; the 2024-base series starts in January 2026 and is drawn separately. The highlighted month is September 2025, when the new GST rates began on the 22nd.
Includes provisional data
per cent
Zero
- CPI, 2012 base
- Food and beverages, 2012 base
- CPI, 2024 base
- Food and beverages, 2024 base
Headline inflation was 2.1% in August 2025 and fell to 0.3% in Oct 2025, after the GST cut. But food and beverage prices were already falling (−0.2% in June 2025), before the cut, and most fresh food carried little or no GST, so the fall cannot be put down to the GST cut alone. On the new 2024 base, inflation was 4.4% in Jun 2026.
Tax policy: changes and collection outcomes
Policy changes
Collections after major tax policy changes
Each card compares the year a change took effect with two paths it might otherwise have followed: growing exactly with nominal GDP, and growing at the tax's own median buoyancy over up to five earlier years. These are descriptive benchmark paths. Their gaps are neither a causal effect nor a confidence interval for revenue forgone: economic conditions, timing, refunds and other policies also moved. Use the workbench for explicit hypothetical assumptions.
Corporate tax cut to 22% (September 2019)
- Corporate tax rate available to existing domestic companies: 22% From FY 2019-20 · Union Budget 2020-21 speech
- Corporate tax rate for new manufacturing companies: 15% From 1 Oct 2019 · Union Budget 2020-21 speech
- Corporation tax, FY 2018-19
- ₹6.64 lakh cr
- FY 2019-20
- ₹5.57 lakh cr down 16.1%
- Nominal GDP growth
- 6.4% 2011-12 base
Had it grown with the economy it would have been ₹7.06 lakh cr; the outturn was ₹1.49 lakh cr lower. At its usual buoyancy of 1.53 (median of 3 years) it would have been ₹7.28 lakh cr, so the outturn was ₹1.71 lakh cr lower on that path.
Real GDP growth: 6.5% the year before, 3.9% that year. CPI inflation: 3.4%, then 4.8%.
What else was going on. Nominal GDP growth slowed to 6.4% in the same year and the pandemic followed in FY 2020-21, so the shortfall is not the rate cut alone.
Zero-tax income raised to ₹7 lakh in the new regime (FY 2023-24)
- Income up to which no income tax is payable: ₹7 lakh From FY 2023-24 · Union Budget 2023-24 speech
- Income tax (incl. STT), FY 2022-23
- ₹8.33 lakh cr
- FY 2023-24
- ₹10.45 lakh cr up 25.4%
- Nominal GDP growth
- 11.0% 2022-23 base
Had it grown with the economy it would have been ₹9.25 lakh cr; the outturn was ₹1.20 lakh cr higher. At its usual buoyancy of 1.30 (median of 4 years) it would have been ₹9.52 lakh cr, so the outturn was ₹92,571 cr higher on that path.
Real GDP growth: 7.6% the year before, 7.2% that year. CPI inflation: 6.7%, then 5.4%.
What else was going on. More filers, higher incomes and a rising share of STT in this line kept it growing; the Budget put the cost of all direct-tax proposals at about ₹37,000 crore.
Capital gains rates and STT on derivatives raised (July and October 2024)
- Long-term capital gains tax on listed equity: 12.5% From 23 Jul 2024 · Union Budget 2024-25 speech (paras 141-143)
- Short-term capital gains tax on listed equity: 20% From 23 Jul 2024 · Union Budget 2024-25 speech (para 142)
- Securities transaction tax on sale of futures: 0.02% From 1 Oct 2024 · Union Budget 2024-25 speech (Annexure D.2)
- Securities transaction tax on sale of options (premium): 0.1% From 1 Oct 2024 · Union Budget 2024-25 speech (Annexure D.2)
- STT, FY 2023-24
- ₹33,778 cr
- FY 2024-25
- ₹52,197 cr up 54.5%
- Nominal GDP growth
- 9.7% 2022-23 base
Had it grown with the economy it would have been ₹37,068 cr; the outturn was ₹15,129 cr higher.
Real GDP growth: 7.2% the year before, 7.1% that year. CPI inflation: 5.4%, then 4.6%.
What else was going on. Derivatives trading volumes were also at records in FY 2024-25, and the higher STT rates applied only from October 2024.
No income tax up to ₹12 lakh (FY 2025-26)
- Income up to which no income tax is payable: ₹12 lakh From FY 2025-26 · Union Budget 2025-26 speech (paras 156-161)
- Income tax (incl. STT), FY 2024-25
- ₹12.35 lakh cr
- FY 2025-26 (provisional)
- ₹12.41 lakh cr up 0.5%
- Nominal GDP growth
- 8.9% 2022-23 base
Had it grown with the economy it would have been ₹13.45 lakh cr; the outturn was ₹1.04 lakh cr lower. At its usual buoyancy of 2.07 (median of 4 years) it would have been ₹14.63 lakh cr, so the outturn was ₹2.22 lakh cr lower on that path.
Real GDP growth: 7.1% the year before, 7.7% that year. CPI inflation was 4.6% the year before; no single-base annual CPI is published for that year.
What else was going on. Refund timing and advance-tax instalments can move collections between years, and STT inside this line kept growing.
GST cut to two main rates, 5% and 18% (22 September 2025)
- Number of main GST rates: 2 From 22 Sep 2025 · Press Information Bureau (56th GST Council recommendations)
- Gross GST, FY 2024-25
- ₹20.56 lakh cr
- FY 2025-26 (provisional)
- ₹22.27 lakh cr up 8.3%
- Nominal GDP growth
- 8.9% 2022-23 base
Had it grown with the economy it would have been ₹22.38 lakh cr; the outturn was ₹11,197 cr lower.
Real GDP growth: 7.1% the year before, 7.7% that year. CPI inflation was 4.6% the year before; no single-base annual CPI is published for that year.
What else was going on. The cut applied for just over six months of FY 2025-26; import GST rose with a weaker rupee, and food prices were already falling before the cut.
Statutory rates over time
Each row is a change and the date it took effect, with the Budget speech or release that states it. Rates are headline rates before surcharge and cess.
| From | Measure | Rate or limit | What changed |
|---|---|---|---|
| 1 Apr 2014 | Income up to which no income tax is payable | ₹2.5 lakh | The basic exemption limit was raised to ₹2.5 lakh after 2014, as the 2025 Budget speech recounts. Union Budget 2025-26 speech (para 156) ↗ |
| 1 Apr 2015 | Corporate tax rate available to existing domestic companies | 30% | Base corporate tax rate for domestic companies before the 2019 cut; Budgets 2016 to 2018 moved smaller companies to 25% by turnover band. Union Budget 2018-19 speech ↗ |
| 1 Apr 2015 | Dividend distribution tax paid by companies | 15% | Companies paid 15% dividend distribution tax plus surcharge and cess on dividends distributed, as the 2020 Budget speech describes. Union Budget 2020-21 speech ↗ |
| 1 Apr 2015 | Long-term capital gains tax on listed equity | 0% | Long-term gains on listed equity shares and equity funds were exempt, as the 2018 Budget speech states. Union Budget 2018-19 speech ↗ |
| 1 Apr 2015 | Short-term capital gains tax on listed equity | 15% | Short-term gains on listed equity were taxed at 15%, as the 2018 Budget speech states. Union Budget 2018-19 speech ↗ |
| 1 Jul 2017 | Number of main GST rates | 4 | GST came into force on 1 Jul 2017, replacing central excise on most goods, service tax and state VAT on goods other than petroleum and alcohol, with main rates of 5%, 12%, 18% and 28% plus a compensation cess on luxury and demerit goods. Receipt Budget 2023-24 (note 8) ↗ |
| 1 Apr 2018 | Long-term capital gains tax on listed equity | 10% | Budget 2018-19 taxed long-term gains above ₹1 lakh at 10% without indexation; gains up to 31 Jan 2018 were grandfathered. Union Budget 2018-19 speech ↗ |
| 1 Apr 2019 | Corporate tax rate available to existing domestic companies | 22% | Announced on 20 Sep 2019 by ordinance and applied to income of FY 2019-20: existing companies may pay 22% (from a 30% base rate) if they forgo exemptions. The 2020 Budget speech: 'for the existing companies, the rate has also been brought down to just 22%' and the cut means 'loss of substantial revenue' in the short run. Union Budget 2020-21 speech ↗ |
| 1 Apr 2019 | Income up to which no income tax is payable | ₹5 lakh | Interim Budget 2019-20: individuals with taxable income up to ₹5 lakh get a full rebate, so pay no income tax. Interim Budget 2019-20 speech (para 89) ↗ |
| 1 Oct 2019 | Corporate tax rate for new manufacturing companies | 15% | New domestic manufacturing companies incorporated from 1 Oct 2019 may pay 15%, as the 2020 Budget speech records. Union Budget 2020-21 speech ↗ |
| 1 Apr 2020 | Dividend distribution tax paid by companies | 0% | Budget 2020-21 removed the 15% dividend distribution tax (plus surcharge and cess); dividends are taxed in shareholders' hands instead. Announced revenue cost: ₹25,000 crore a year. The same Budget offered an optional lower-rate personal income tax regime, with an announced cost of ₹40,000 crore a year. Union Budget 2020-21 speech ↗ |
| 1 Apr 2023 | Income up to which no income tax is payable | ₹7 lakh | Budget 2023-24 raised the rebate limit to ₹7 lakh in the new tax regime, which became the default regime. Announced revenue cost of the direct-tax proposals: about ₹37,000 crore a year. Union Budget 2023-24 speech ↗ |
| 1 Apr 2023 | Securities transaction tax on sale of futures | 0.0125% | Rate in force before the July 2024 Budget raised it, as that speech states; set by the Finance Act, 2023. Union Budget 2024-25 speech (Annexure D.2) ↗ |
| 1 Apr 2023 | Securities transaction tax on sale of options (premium) | 0.0625% | Rate in force before the July 2024 Budget raised it, as that speech states; set by the Finance Act, 2023. Union Budget 2024-25 speech (Annexure D.2) ↗ |
| 23 Jul 2024 | Long-term capital gains tax on listed equity | 12.5% | July 2024 Budget: long-term gains on all financial and non-financial assets taxed at 12.5%; the annual exemption for listed equity raised to ₹1.25 lakh. Union Budget 2024-25 speech (paras 141-143) ↗ |
| 23 Jul 2024 | Short-term capital gains tax on listed equity | 20% | July 2024 Budget: short-term gains on certain financial assets (including listed equity) taxed at 20%. Union Budget 2024-25 speech (para 142) ↗ |
| 1 Oct 2024 | Securities transaction tax on sale of futures | 0.02% | July 2024 Budget raised STT on sale of futures from 0.0125% to 0.02% of the traded price. Union Budget 2024-25 speech (Annexure D.2) ↗ |
| 1 Oct 2024 | Securities transaction tax on sale of options (premium) | 0.1% | July 2024 Budget raised STT on sale of an option from 0.0625% to 0.1% of the premium. Union Budget 2024-25 speech (Annexure D.2) ↗ |
| 1 Apr 2025 | Income up to which no income tax is payable | ₹12 lakh | Budget 2025-26: no income tax on income up to ₹12 lakh in the new regime (₹12.75 lakh for salaried taxpayers), with new slabs. Announced revenue cost: about ₹1 lakh crore in direct taxes. Union Budget 2025-26 speech (paras 156-161) ↗ |
| 22 Sep 2025 | Number of main GST rates | 2 | 56th GST Council: two main rates, 18% standard and 5% merit, plus a 40% rate for a narrow set of demerit goods; most goods and all services moved on 22 Sep 2025. Tobacco products keep their rates and the compensation cess until the cess account obligations are discharged. Press Information Bureau (56th GST Council recommendations) ↗ |
| 1 Apr 2026 | Securities transaction tax on sale of futures | 0.05% | Budget 2026-27 raised STT on futures to 0.05% from 0.02%; the Finance Act, 2026 applies it from 1 Apr 2026. Union Budget 2026-27 speech (para 140) ↗ |
| 1 Apr 2026 | Securities transaction tax on sale of options (premium) | 0.15% | Budget 2026-27 raised STT on option premium to 0.15% from 0.1%, and on exercised options to 0.15% from 0.125%. Union Budget 2026-27 speech (para 140) ↗ |
Sources
Publishers in this snapshot
- Controller General of Accounts, monthly accounts ↗309 observations · Apr 2025 – Aug 2026 · some provisional
- Controller General of Accounts, monthly accounts ↗224 observations · Apr 2023 – Mar 2024 · verified
- Controller General of Accounts, monthly accounts ↗224 observations · Apr 2024 – Mar 2025 · verified
- Economic Survey 2025-26, Statistical Appendix, Tables 1.6 and 1.7 (2011-12 series) ↗208 observations · Apr 2014 – Mar 2025 · verified, some provisional, some estimated
- Controller General of Accounts, monthly accounts ↗198 observations · Apr 2018 – Mar 2019 · verified
- Controller General of Accounts, monthly accounts ↗198 observations · Apr 2019 – Mar 2020 · verified
- Controller General of Accounts, monthly accounts ↗198 observations · Apr 2020 – Mar 2021 · verified
- Controller General of Accounts, monthly accounts ↗198 observations · Apr 2021 – Mar 2022 · verified
- Controller General of Accounts, monthly accounts ↗198 observations · Apr 2022 – Mar 2023 · verified
- Controller General of Accounts, monthly accounts ↗183 observations · Apr 2017 – Mar 2018 · verified
- Controller General of Accounts, monthly accounts ↗133 observations · Apr 2015 – Mar 2016 · verified
- Controller General of Accounts, monthly accounts ↗133 observations · Apr 2016 – Mar 2017 · verified
- Calculated from the published collections115 observations · Apr 2016 – Mar 2026 · verified, some provisional, some estimated
- RBI Handbook of Statistics on Indian Economy 2025-26, Table 100 ↗108 observations · Apr 2014 – Mar 2026 · verified, some estimated, some projected
- RBI Handbook of Statistics on Indian Economy 2025-26, Tables 1 and 2 (NSO, 2022-23 series) ↗93 observations · Apr 2022 – Mar 2026 · verified, some provisional, some estimated
- Economic Survey 2025-26, Statistical Appendix, Table 9.1 (NSO CPI index, base 2012) ↗72 observations · Jan 2020 – Dec 2025 · verified
- Union Budget 2026-27, Budget at a Glance, printed page 1 ↗36 observations · Apr 2024 – Mar 2027 · verified, some projected, some estimated
- RBI, State Finances: A Study of Budgets (Appendix I, all States and UTs) ↗36 observations · Apr 2023 – Mar 2026 · verified, some estimated, some projected
- GSTN, GST collections September 2026 ↗26 observations · Apr 2025 – Sep 2026 · some provisional
- Union Budget 2026-27, Budget at a Glance ↗24 observations · Apr 2025 – Mar 2027 · some projected, some estimated
- GSTN, GST collections March 2026 ↗24 observations · Apr 2024 – Mar 2026 · some provisional
- RBI Handbook of Statistics on Indian Economy 2025-26, Table 243 (NSO CPI, base 2012) ↗21 observations · Apr 2024 – Dec 2025 · verified
- Economic Survey 2025-26, Statistical Appendix, Tables 1.6 and 1.7 (2011-12 series) ↗20 observations · Apr 2015 – Mar 2025 · verified, some provisional
- RBI, State Finances: A Study of Budgets (Appendix I, all States and UTs) ↗12 observations · Apr 2017 – Mar 2018 · verified
- RBI, State Finances: A Study of Budgets (Appendix I, all States and UTs) ↗12 observations · Apr 2018 – Mar 2019 · verified
- RBI, State Finances: A Study of Budgets (Appendix I, all States and UTs) ↗12 observations · Apr 2019 – Mar 2020 · verified
- RBI, State Finances: A Study of Budgets (Appendix I, all States and UTs) ↗12 observations · Apr 2020 – Mar 2021 · verified
- RBI, State Finances: A Study of Budgets (Appendix I, all States and UTs) ↗12 observations · Apr 2021 – Mar 2022 · verified
- RBI, State Finances: A Study of Budgets (Appendix I, all States and UTs) ↗12 observations · Apr 2022 – Mar 2023 · verified
- RBI Handbook of Statistics on Indian Economy 2025-26, Table 243 (NSO CPI, base 2024) ↗12 observations · Jan 2026 – Jun 2026 · verified, some provisional
- RBI, State Finances: A Study of Budgets (Appendix I, all States and UTs) ↗11 observations · Apr 2015 – Mar 2016 · verified
- RBI, State Finances: A Study of Budgets (Appendix I, all States and UTs) ↗11 observations · Apr 2016 – Mar 2017 · verified
- RBI Handbook of Statistics on Indian Economy 2025-26, Table 236 (NSO CPI, base 2012) ↗11 observations · Apr 2014 – Mar 2025 · verified
- MoSPI, GDP release 5 June 2026, Statement 2 ↗8 observations · Apr 2022 – Mar 2026 · verified, some provisional
- MoSPI, GDP release 5 June 2026, Statement 1 ↗6 observations · Apr 2023 – Mar 2026 · verified, some provisional
- Ministry of Finance, Rajya Sabha answer 892, 30 July 2024 ↗5 observations · Apr 2018 – Mar 2023 · verified
- Economic Survey 2025-26, Chart II.3 (data from GSTN) ↗4 observations · Apr 2021 – Mar 2025 · verified
- Union Budget 2020-21 speech ↗4 observations · Apr 2015 – Apr 2020 · verified
- Union Budget 2018-19 speech ↗4 observations · Apr 2015 – Apr 2018 · verified
- Union Budget 2024-25 speech (Annexure D.2) ↗4 observations · Apr 2023 – Oct 2024 · verified
- Union Budget, Receipt Budget 2026-27 ↗3 observations · Apr 2025 – Mar 2027 · some estimated, some projected
- Union Budget 2026-27 speech (para 140) ↗2 observations · Apr 2026 – Apr 2026 · verified
- Union Budget, Receipt Budget 2017-18 (actuals) ↗1 observations · Apr 2015 – Mar 2016 · verified
- Union Budget, Receipt Budget 2018-19 (actuals) ↗1 observations · Apr 2016 – Mar 2017 · verified
- Union Budget, Receipt Budget 2019-20 (actuals) ↗1 observations · Apr 2017 – Mar 2018 · verified
- Union Budget, Receipt Budget 2020-21 (actuals) ↗1 observations · Apr 2018 – Mar 2019 · verified
- Union Budget, Receipt Budget 2021-22 (actuals) ↗1 observations · Apr 2019 – Mar 2020 · verified
- Union Budget, Receipt Budget 2022-23 (actuals) ↗1 observations · Apr 2020 – Mar 2021 · verified
- Union Budget, Receipt Budget 2023-24 (actuals) ↗1 observations · Apr 2021 – Mar 2022 · verified
- Union Budget, Receipt Budget 2024-25 (actuals) ↗1 observations · Apr 2022 – Mar 2023 · verified
- Union Budget 2025-26 speech (para 156) ↗1 observations · Apr 2014 – Apr 2014 · verified
- Receipt Budget 2023-24 (note 8) ↗1 observations · Jul 2017 – Jul 2017 · verified
- Interim Budget 2019-20 speech (para 89) ↗1 observations · Apr 2019 – Apr 2019 · verified
- Union Budget 2023-24 speech ↗1 observations · Apr 2023 – Apr 2023 · verified
- Union Budget 2024-25 speech (paras 141-143) ↗1 observations · Jul 2024 – Jul 2024 · verified
- Union Budget 2024-25 speech (para 142) ↗1 observations · Jul 2024 – Jul 2024 · verified
- Union Budget 2025-26 speech (paras 156-161) ↗1 observations · Apr 2025 – Apr 2025 · verified
- Press Information Bureau (56th GST Council recommendations) ↗1 observations · Sep 2025 – Sep 2025 · verified
Snapshot
Citation and snapshot details
Dataset india-tax-0d8d5d362368f82c, refresh 95793fba-55bf-58c2-bfce-f7c29a3adad2, published 20 Oct 2026,
loaded into the database 20 Oct 2026. Every chart's table, CSV and Copy for AI carry each observation's Id,
status and source page.
Download the full snapshot: CSV · JSON
Due next
- 30 Nov 2026 Union government monthly accounts (CGA) (Oct 2026), expected date
- 1 Dec 2026 Gross and net GST collections (GSTN) (Nov 2026), expected date
- 1 Feb 2027 Union Budget 2027-28 (revised estimates for FY 2026-27) (FY 2027-28), expected date
Methodology and definitions
Coverage
Fiscal years run April to March (FY 2025-26 = April 2025 to March 2026). Rupee amounts are ₹ crore as published (1 lakh crore = 100,000 crore); US dollars use the average FRED EXINUS rate of the same months. The Centre's figures are gross collections before the States' share; the States' figures are their own taxes. Shares of GDP name their GDP base (2011-12 or 2022-23) and never mix them. Budget Estimates are targets, not outturns. A missing value is blank, never zero.
The Centre's accounts
Monthly figures are the Controller General of Accounts' unaudited monthly accounts. A closed year is read from the page that shows it as the prior year; FY 2024-25 agrees with the actuals in the 2026-27 Budget. Securities transaction tax sat inside "other taxes" in the monthly accounts until March 2023; for earlier years it comes from the Receipt Budget actuals and is taken out of other taxes, so direct and indirect totals add up exactly.
Shares of GDP and buoyancy
Nominal GDP comes from NSO: the 2011-12 base to FY 2024-25 (Economic Survey 2025-26) and the 2022-23 base from FY 2022-23 (RBI Handbook). Ratios use one base at a time. Buoyancy is the growth of collections divided by nominal GDP growth; above 1 means taxes grew faster than the economy. It is left out for FY 2020-21, when nominal GDP barely moved and the ratio means nothing.
The States
RBI's State Finances: A Study of Budgets, Appendix I, for all States and Union territories with legislatures. Each edition gives one year of accounts; the newest adds Revised and Budget Estimates, which are marked as estimates and targets.
GST
Gross GST is GSTN's total of CGST, SGST and IGST before refunds. The Economic Survey's series includes the compensation cess; GSTN's releases from late 2025 leave it out, as the cess was ending. The Centre's GST in the accounts is CGST plus the IGST it keeps after settlement plus the cess, which is what the Budget calls GST.
Data not available
Capital gains tax is inside corporation and income tax in the cash accounts. The parliamentary LTCG series above reports tax from e-returns by assessment year, not a separate cash head or a confirmed equity-only split. Declared capital gains are income, not tax. Current STCG/LTCG cash receipts and eligible bases by asset are unavailable here. Statutory fuel excise rates are not in this snapshot.
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