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.
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: