Direct Tax Collections Rise 13.21% to ₹13.38 Lakh Crore Till Oct 14

According to data released by the Income Tax Department, India’s net direct tax collections rose 13.21% year-on-year to ₹13,37,866.98 crore during April 1 to October 14 of FY 2026-27. Gross collections grew faster at 14.89%, with refunds accounting for the difference between the two figures.

Direct Tax Collections at a Glance

Why Refunds Grew Faster Than Net Collections?

Refunds rose 24.22% to ₹2,65,199.14 crore during the period, outpacing the growth in net collections. Faster refund outflows kept the net figure below gross collections, even as the underlying tax base expanded 14.89% year-on-year.

How the Direct Tax Mix Broke Down

Corporate and non-corporate segments both contributed to the overall collections:

• Net corporate tax collections: ₹5,99,062.48 crore
• Net non-corporate tax collections: ₹6,91,965.71 crore
• Gross non-corporate collections: rose to ₹8,03,245.26 crore from ₹7,20,353.91 crore a year earlier

STT Collections Jumped on Higher Market Activity

Securities Transaction Tax collections reached ₹46,840.43 crore during April 1 to October 14 of FY 2026-27, up from ₹30,901.81 crore in the corresponding period of FY 2025-26. STT applies to taxable securities transactions and moves directly with trade volumes and the value of eligible securities transactions.

September GST Collections Crossed ₹2 Lakh Crore

Gross GST revenue rose 14.7% year-on-year to ₹2,03,521 crore in September 2026, from ₹1,77,365 crore in September 2025. Net GST revenue after refunds increased 18.1% to ₹1,76,520 crore from ₹1,49,517 crore a year earlier.

Import-linked GST rose more sharply, climbing 25.9% to ₹65,525 crore from ₹52,031 crore. Post-settlement SGST revenue of states and Union territories rose 14% to ₹92,075 crore in September from ₹80,962 crore a year earlier.

Apr-Sept GST Revenue Maintained Double-Digit Growth

Final Outlook