Context
Gross GST collections rose 8.1% YoY in Feb 2026 to ₹1.83 lakh crore.
GST Basics
- Implemented: 1 July 2017
- Destination-based tax
- Replaced VAT, Excise, Service Tax etc.
- One Nation One Tax
Constitutional Basis
Rate Rationalisation
- 375 items saw rate cuts
- Slabs consolidated mainly to 5% & 18%
- 40% retained for ultra-luxury/tobacco
Significance: Stable revenue despite rationalisation.




