India Data Hub · Macro Data
India's GST collections fall to -3.42% in May 2026 from 2.53%
GST revenue turns negative after prior month's growth, signaling economic weakness.
The read
India's GST collections contracted 3.42% in May 2026 from a year earlier, a sharp reversal from the 2.53% expansion in the previous month. The swing from growth to contraction signals a marked deterioration in the tax base. The verdict: domestic demand and corporate activity appear to be weakening.
Key numbers
- Actual: -3.42%
- Previous: 2.53%