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GST records second-highest collection at Rs 1.87 lakh crore in October

04 Nov 2024 Evaluate

The government data has showed that the gross Goods and Services Tax (GST) collection in October rose 8.9 per cent to Rs 1,87,346 crore, the second-highest ever, on pick-up in domestic sales and improved compliance. In October 2023, the mop-up was at Rs 1.72 lakh crore.

The Central GST collection stood at Rs 33,821 crore, State GST at Rs 41,864 crore, Integrated GST at Rs 99,111 crore and cess at Rs 12,550 crore during the month. October 2024 recorded the second-best GST mop-up. The highest ever collection was in April 2024 at over Rs 2.10 lakh crore.

During the month under review, GST from domestic transactions grew 10.6 per cent to Rs 1.42 lakh crore, while revenues from tax on imports rose about 4 per cent to Rs 45,096 crore. Refunds worth Rs 19,306 crore were issued during the month, registering 18.2 per cent growth over the year-ago period. After adjusting refunds, net GST collection grew 8 per cent at over Rs 1.68 lakh crore.


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