Bengal finance minister Swapan Dasgupta (file photo)
GST rates were mostly rationalised from 18% to 5% in Sept 2025, with cuts on white goods, FMCG and small cars bringing rates significantly lower than the previous year. Total annual GST collection in FY26 stood at Rs 47,201 crore, up from Rs 45,224 crore in FY25.
State finance minister Swapan Dasgupta said the revenue buoyancy was driven by better compliance. “The trend so far is very positive and we are optimistic that it will continue and get better,” he told TOI. The headline growth rate understates the actual improvement, according to sources. “Growth would be over 20% if last fiscal’s rates were considered,” one source said. Officials said the outbound de-growth was achieved by detecting and eliminating fake IGST transactions. “A de-growth of 0.2% means an actual gain of over 17% on IGST,” an expert said.
SGST commissioner Khalid Anwar described the earlier high outbound IGST growth as “surprising for a consumer state.