New Delhi, April 2 -- Gross Goods and Services Tax (GST) revenue crossed Rs.2 lakh crore in March after nine months, rising nearly 9% year-on-year, with much of the growth driven by a sharp rise in import-linked revenues, government data showed on Wednesday. Gross GST collections for the financial year ended March 31, 2026 stood at Rs.22.27 lakh crore, up from Rs.20.56 lakh crore in 2024-25 (adjusted for compensation cess for a like-to-like comparison), reflecting an 8.3% increase. The GST Council had in September 2025 decided to phase out the compensation cess after it served its purpose. In March, gross collections were Rs.2,00,064 crore, compared to Rs.1,83,845 crore a year earlier (adjusted for compensation cess), the data showed. GST revenue from imports stood at Rs.53,861 crore, marking a 17.8% year-on-year increase. After refunds of Rs.22,074 crore in March -- up 13.8% year-on-year -- net GST collections came in at Rs.1,77,990 crore, 8.2% higher than Rs.1,64,445 crore in March 2025. For the full year 2025-26, net GST revenue after refunds stood at Rs.19,34,766 crore, compared to Rs.18,07,296 crore in 2024-25 (adjusted for compensation cess), registering a 7.1% increase. Total refunds during April 2025-March 2026 rose 17.8% to Rs.2,92,330 crore, from Rs.2,48,218 crore in the previous year. Abhishek Jain, indirect tax head and partner at KPMG, said GST collections continue to show steady growth, supported by strong import activity and consistent compliance. Experts said April collections will more accurately reflect the impact of the ongoing tensions in West Asia on domestic economic activity. GST data for a given month typically reflects transactions from the previous month....