NEW DELHI, Oct 2: The gross Goods and Services Tax (GST) revenue in September crossed ₹2 lakh crore, registering a 14.7% year-on-year increase, government data released on Thursday showed.

Gross GST collections stood at ₹2,03,521 crore in September 2026, compared with ₹1,77,365 crore in September 2025. The collections reflect transactions undertaken in August. Net revenue after refunds surged 18.1% to ₹1,76,520 crore in September this year, from ₹1,49,517 crore in September 2025.

Experts attributed the stronger growth in net revenue partly to comparatively lower refunds. Refunds in September 2026 stood at ₹27,001 crore, down 3% from ₹27,848 crore in the same month last year.

Experts also pointed to the sharp rise in import-linked GST revenue compared with collections from domestic business activity. Gross GST revenue from domestic business activities in September 2026 was ₹1,37,996 crore, up 10.1% from ₹1,25,334 crore in the same month of 2025. Import-linked gross revenue, meanwhile, surged 25.9% to ₹65,525 crore, from ₹52,031 crore a year earlier.

G7 Nations To Release 100 Million Barrels Of Oil Amid Fuel Price Surge

PARIS, Oct 2: G7 countries agreed Friday to release 100 million barrels of diesel and crude oil from their reserves over four months, leaders said, agreeing to "refrain from export restrictions on energy" and urging others to do the same.

The announcement came after G7 leaders held talks to coordinate action on fuel prices, after the United States upped pressure on Europe to release its strategic reserves by threatening a diesel export ban.

The seven countries agreed to "a coordinated release through the IEA of 100 million barrels to begin immediately over four months, including a frontloaded substantial diesel release within the first 20 days," they said in a joint statement released by French President Emmanuel Macron's office.

The leaders also said that there would be no ban on diesel exports between them.

"We reaffirm our commitment to refrain from export restrictions on energy and energy products between G7 countries and call on all producers to refrain from imposing bans that could exacerbate market tensions," the leaders said.

"Our citizens' concerns about energy prices remain a top priority," they added.

"We will monitor developments closely and stand ready to adjust measures as needed."

Macron had convened a video call of G7 leaders -- a group comprising also Britain, Japan, Canada, Germany and Italy -- to discuss joint action after he spoke with Donald Trump.

Trump has floated the possibility of banning US exports of diesel, which is used in trucks and other hauling vehicles, an alarming prospect for the EU, which relies heavily on fossil fuel imports.